The global luxury market has long been dominated by three giants, all European — LVMH Moët Hennessy Louis Vuitton, Kering and Richemont. Now, it has two hungry American contenders. Coach and Michael Kors, fashion houses that have thus far catered to the “middle market” of the luxury sector, are looking to transform themselves into leading forces in the field, and they could reshape the industry in the process. Kors said last week that it would buy the upmarket London-based shoemaker Jimmy Choo for $1.2 billion. It declared the deal to be the beginning of a makeover that would turn an ailing American single-brand accessories business into a multilabel global fashion and luxury behemoth.
NYS Entity Status
NYS Filing Date
OCTOBER 08, 2014
NYS DOS ID#
BUSINESS FILINGS INCORPORATED
187 WOLF ROAD
ALBANY, NEW YORK, 12205
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2014 - KOR TECHNOLOGY INC.
AROUND THE WEB
- The luxury arms race: Michael Kors and Coach target takeovers
By Vanessa Friedman and Elizabeth Paton - Friday Jul 28, 2017
- Michael Kors buying Jimmy Choo in $1.2 billion deal
By Elizabeth Paton and Chad Bray - Tuesday Jul 25, 2017
On Tuesday, Michael Kors Holdings of New York said it had agreed to buy shoe company Jimmy Choo of London for about $1.2 billion, the latest push by a U.S. high-end fashion house to find new sources of growth and what its chief executive characterized as the first step in building a bigger international luxury group.Mall traffic in North America has declined sharply, while shoppers who have traditionally been loyal to the middle market have gravitated toward brands at extremes of the style and price spectrum.“Acquiring Jimmy Choo is the beginning of a strategy that we have for building a luxury group that really is focused on international fashion brands,” John Idol, the chairman and chief executive officer of Michael Kors Holdings, said.Michael Kors, known for fashion-forward designs and competitive prices, is heavily reliant on outlets and department stores, where deep discounting is common.Open-toe slip-on sandals sell for $425, while crystal-encrusted shoes with the brand’s signature sky-high stiletto heels go for nearly $3,000.
- For 18 Hours, Cabbie Sat Dead in Front Seat
By KIM BARKER - Monday Aug 14, 2017
A driver parked his taxi to take a break in SoHo. He died behind the wheel. Then, for nearly a day, New Yorkers went about their lives — just feet from his body.
- New York eyes 'textalyzer' to bust drivers using phones
By DAVID KLEPPER, Associated Press - Wednesday Jul 26, 2017
ALBANY, N.Y. (AP) — Police in New York state may soon have a high-tech way of catching texting drivers: a device known as a "textalyzer" that allows an officer to quickly check if a phone has been in use before a crash."Despite laws to ban cellphone use while driving, some motorists still continue to insist on texting behind the wheel — placing themselves and others at substantial risk," Cuomo said in a statement first reported by The Associated Press.Digital privacy and civil liberties groups already have questioned whether the technology's use would violate personal privacy, noting that police can already obtain search warrants if they believe information on a private phone could be useful in a prosecution.Many security experts are skeptical when it comes to promises that the textalyzer would only access information about phone usage, and not personal material, according to Rainey Reitman, of the Electronic Frontier Foundation, a nonprofit organization that advocates for civil liberties when it comes to digital technology.The committee will hear from supporters and opponents of the technology, law enforcement officials and legal experts before issuing a report, Cuomo's office said.
- Michael Kors acquires Jimmy Choo for $1.2 billion
By Lisa Fickenscher - Tuesday Jul 25, 2017
Are the Jimmy Choos worth it? Michael Kors is going to find out. Michael Kors shelled out $1.2 billion to buy the Jimmy Choo shoe brand on Tuesday —a price tag that struck some analysts as staggeringly high, like a pair of $750 Jimmy Choo pumps. Kors Chief Executive John Idol called London-based Choo a...
- A Handmaid’s Tale of Protest
By CHRISTINE HAUSER - Friday Jun 30, 2017
In state capitals and street protests, women’s rights activists have been wearing red robes and white bonnets based on “The Handmaid's Tale,” the 1985 novel that is now a series on Hulu.