John Idol, the CEO of the brand, has said that more details will be announced in the “next few months”.
The Michael Kors fashion label – likely best recognized for its MK print handbags – has now announced that it intends to start making its way into the wearable technology category, and it plans to start making announcements of the specifics for those products within the “next few months.”
The announcement of the Michael Kors entry into wearables was made to analysts by the CEO.
According to CEO John Idol, who made the announcement in a conference call, “We will be in wearables,” adding, “So I will tell you that that is coming from Michael Kors. And we have a whole strategy around it.” This is the first time that the company’s intentions to move into wearable technology have been directly addressed. However, Kors had previously been hinting at having an interest in dabbling in products with a tech focus. This included compact mirrors and lipstick tubes that could double as portable chargers for smartphones. Last year, it was the designer behind the Duracell Powermat styles, which is a wireless phone charging gadget that bore print with the MK signature logo.
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There are a number of reasons that the company feels that wearable technology is a natural next direction.
Idol made reference to the existing relationship that it has with the designer Fossil brand, which makes the watches for Kors. Moreover, last year, the brand partnered with Google and Intel for the development of wearables within the fashion industry. At the time of the writing of this article, a representative from Fossil had not provided an immediate response to requests for comments on the subject. Kors representatives had also declined to offer any more details about its intentions to produce wearable tech gadgets.
This “affordable luxury” brand is undergoing a time of considerable expansion as it steps into a range of new markets, including wearable technology and a number of others. In the last quarter of 2014, it had experienced an increase of 30 percent in its total revenue, bringing it to 1.31 billion.