Handbags - Holiday Promos
OTR Global closely monitored online and in-store promotions at Tapestry Inc.’s Coach full-priced stores and found slightly elevated levels yy during October-December, with a slightly deeper discount of up to 50% off sale on shoes and apparel in the first half of the quarter (compared with a 40% discount last year). In addition, a discount of 25% off sale items was added the weekend before Christmas. Promotional levels at Kate Spade were about the same yy.
For Capri Holdings Ltd.’s full-priced Michael Kors stores, discounts were deeper or offered for a longer time period yy on nine different promotions during the quarter, starting with a new 25%-off entire purchase sale on Oct. 1 and a new discount in December for Kors VIP customers, which offered $50 off a $250 purchase, $125 off $500 and $250 off a $750-or-higher purchase. The increased promotions yy were first reported in OTR Global's October Michael Kors report, reversing several quarters of either reduced or flat promotions yy.
In visits to Coach, Kate Spade and Kors full-priced stores in Manhattan and Long Island the week before Christmas, all three stores were full of traffic with lots of shoppers making purchases. At the Michael Kors Rockefeller Center store in particular, traffic was high and most visitors were observed exiting with bags in hand.
Handbags on sale at Michael Kors full-priced stores
Photo: OTR Global
Handbags on sale at Coach full-priced stores
Photo: OTR Global
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