If you have ever wondered why Michael Kors’ bags are so expensive, you have come to the right place. Please keep reading to learn about all the different variables that impact the cost of a Michael Kors bag, including the quality of the materials, craftsmanship, and design.
By the end of this article, you will be a Michael Kors expert.
Why Do Michael Kors Bags Cost so Much?
To understand why Michael Kors bags are so expensive, you must understand all the value of the Michael Kors Brand. Michael Kors is a luxury designer that has been around since 1981. It is a global powerhouse of fashion and style.
The brand’s reputation is such that it has earned the loyalty of millions of women around the world, and this is why Michael Kors bags carry a premium. The quality of the materials used, the craftsmanship involved, and the design are all factors that make a Michael Kors bag pricier than other brands.
The History of Michael Kors and the Value of Its Brand
American designer Michael Kors founded Michael Kors in 1981 and has become a global fashion powerhouse. His style of luxury handbags, accessories, and clothing is world-renowned, and now the brand is known for its sophisticated and high-quality pieces.
Despite its worldwide presence, the brand had humble beginnings. Michael Kors showed an early interest in fashion and got his first big break when Dawn Mellow noticed him. Mellow allowed Kors to display his collection at Bergdorf Goodman.
His designs quickly gained popularity, and soon, you could find his clothing line at Neiman Marcus, Lord and Taylor, Saks Fifth Avenue, and Bloomingdale’s.
The presence of his clothing line in these famous department stores greatly impacted the renown of the Michael Kors brand.
However, it wasn’t until 1981 that Kors launched a clothing line named after himself. This clothing line was the first one that gained international attention, and soon celebrities were wearing his handbags on their arms while they walked the red carpet.
After working for several famous fashion companies, including Celine, Kors stepped out again to launch the Michael Kors line in 2004. This new fashion line included everything from clothes to accessories to perfumes and handbags.
This brand is the one that the world is now familiar with, and since then, it has grown to include over 770 retail stores worldwide.
Michael Kors has only built upon its popularity with celebrities; people have seen Jennifer Lopez, Jennifer Lawrence, Taylor Swift, and Michelle Obama wearing his brand.
The ever-increasing popularity of the Michael Kors brand with celebrities has made this brand one of the world’s most popular. Michael Kors leveraged this popularity into higher prices and built the association that Michael Kors is a luxurious brand worn by the rich and famous. Therefore, if you want to be rich and famous, you should wear Michael Kors.
The Craftsmanship and Labor Behind Michael Kors Bags
Another critical factor why Michael Kors bags are so expensive is the craftsmanship and labor that goes into making each bag.
The materials used to make Michael Kors bags are of the highest quality. All the reinforcements, interior linings, hardware detail, and straps are hand-crafted with the utmost attention to detail and quality.
Michael Kors only hires the most skilled craftspeople to produce its bags. These craftspeople take great pride in their bags and produce each with the highest quality.
The labor involved in making Michael Kors bags is also a significant factor in why they are so expensive.
Michael Kors has strict guidelines and quality standards that each bag meets before it goes on sale, and the craftspeople must ensure each bag meets these standards.
These processes take a lot of time, and the labor involved also adds to the cost. In addition, Michael Kors pays its craftspeople well for their hard work.
Paying a market rate ensures that the craftspeople receive a living wage, contributing to the overall cost of Michael Kors bags.
Innovation and Cutting Edge Fashion
Michael Kors’ success has primarily been due to his ability to stay on the cutting edge of fashion. Michael Kors prides himself on staying ahead of the trends and launching innovative and exciting collections.
Michael Kors designs each collection to meet the needs of different consumers and provide something for everyone. This strategy has helped Michael Kors dominate the fashion world and create a demand for his products.
The innovative designs, cutting-edge fashion, and quality craftsmanship make Michael Kors bags stand out from other designer bags, which further drives up the cost of this brand.
It is also important to remember that for every bag you see in a department store, designers spend hundreds and even thousands of hours evaluating different designs and materials before the final product is released.
This process requires large amounts of fabrics, materials, and labor in addition to the expertise of fashion designers and Michael Kors himself. None of this comes cheap.
All of this hard work, creativity, and attention to detail add to the price of Michael Kors bags.
High-Quality Materials and Fabrics
Michael Kors pays particular attention to the quality of the materials and fabrics used to make his bags.
The leather used in Michael Kors bags is of the highest quality and comes from some of the best tanneries in Europe.
The materials used to make Michael Kors bags are also carefully selected to ensure they provide maximum durability and style.
The fabrics used in Michael Kors bags are made of a unique blend of cotton, silk, and wool to provide maximum comfort while still looking fashionable and stylish.
These materials are expensive, and the vendors that produce them are at the top of their respective businesses. However, the high prices involved with purchasing from these vendors are worth it because the materials provide the luxurious finish that makes Michael Kors bags so desirable.
The high cost of materials increases the base cost of Michael Kors bags which the customer helps cover. You can rest assured that the high price of a Michael Kors bag will be worth it.
The Cost of Michael Kors’ Marketing
To stay in the limelight, attract attention to the brand, and maintain its reputation, Michael Kors has to spend a massive amount of money on marketing each year. Without marketing, no one would know about Michael Kors and its products.
Michael Kors must also maintain its presence in the fashion industry, which involves high costs for advertising campaigns and appearances at fashion shows.
These activities help boost the brand’s public profile and add to the overall cost of producing and marketing Michael Kors bags.
Michael Kors spent over $329 million last year on marketing. Although this number may seem massive, the brand must spend this much to continue its success.
These costs are passed down to the consumer, making Michael Kors bags even more expensive.
The Cost of Running Michael Kors’ Stores
As Michael Kors has grown in popularity, so has the number of brick-and-mortar stores the company runs. The company has more than 1,200 stores and 14,000 employees.
Many stores require a considerable investment in rent, utilities, and staffing costs. Also, the cost of maintaining each store, such as cleaning and repairs, adds to the overhead.
These costs are all passed down to the consumer when they purchase a Michael Kors bag, and the high cost of owning and running Michael Kors stores is a significant factor in why their bags are so expensive.
The Demand for Michael Kors
The Michael Kors brand is world-renowned, with fashion fans standing in line for days to get their hands on the newest product.
This classic case of supply and demand drives up prices; consumers are willing to shell out extra money because they know what they’re buying is special! Unsurprisingly, a brand as iconic as Michael Kors follows this economic principle – when there’s high demand and low supply, the cost will increase correspondingly.
Michael Kors has earned prestige within the fashion industry by relying on a savvy marketing strategy. Additionally, they have cleverly managed their stock of handbags and authenticated second-hand products to discourage buyers from seeking out counterfeit items. As such, demand for genuine Michael Kors apparel remains high.
Popularity With Celebrities
One of the ways that Michael Kors gained rapid popularity was due to connecting with several celebrities early on in his career. He solidified his position as an industry leader when movie stars and singers began wearing his bags.
Popularity with celebrities made Michael Kors one of the most sought-after accessories for the upper echelons of society and drove up the price of his bags even more.
Exclusivity and Limited Production Runs
The Michael Kors brand is exclusive to a certain degree because each bag design has limited supplies available. The bags are desirable because they’re made from high-quality materials and come with a unique design that you won’t find in any other designer’s collection.
This exclusivity, coupled with the fact that many of Michael Kors bags are part of limited edition production runs, causes prices to skyrocket due to the high demand for the bags and the low supply.
Limited production runs also cause customers to try and repurchase bags or be one of the first to buy the new designs; this excitement drives up prices to a higher level.
Michael Kors Is a Symbol of High Class and Wealth
Although the quality and design of Michael Kors bags are excellent, many people buy them because they symbolize wealth and high class.
People who purchase Michael Kors bags are seen as having good taste and a higher level of sophistication, which makes them all the more desirable and expensive. Additionally, since they are a status symbol, you can’t sell them cheaply, and the high price dictates how the bags are perceived.
Frequently Asked Questions
These are some frequently asked questions about Michael Kors bags.
Is Michael Kors a luxury brand?
Yes, Michael Kors is a luxury brand. It is highly sought after for its quality, design, and association with high class and wealth.
What is special about Michael Kors bags?
Michael Kors bags are unique because they are made from high-quality materials and come with unique designs. They also have limited production runs, which makes them even more exclusive and desirable.
Are Michael Kors bags genuine leather?
Yes, most Michael Kors bags are made from genuine leather. They also have used other materials, such as canvas and PVC.
Is Coach or Michael Kors more expensive?
Michael Kors is generally more expensive than Coach, as it is a luxury brand with higher-quality materials and designs. It is a more exclusive brand and appeals to a more exclusive clientele.
Do Michael Kors bags hold their value?
Yes, they do. Michael Kors bags are an investment that will hold its value regarding resale as their demand remains high. Additionally, the unique designs and trends Michael Kors use in their bags help them maintain their value.
Further, the company authenticates its bags against counterfeiting, which helps keep their value in the long term.
Do Michael kors bags last?
Yes, Michael Kors bags have an excellent reputation for lasting a long time. They are made from high-quality materials and are designed to withstand wear and tear from everyday use.
Is Michael Kors more expensive than Louis Vuitton?
No, Michael Kors is not more expensive than Louis Vuitton in most cases. Louis Vuitton is a more exclusive brand; their bags are often more costly than Michael Kors.
Why Are Michael Kors Bags so Expensive? Closing Thoughts
It is clear why Michael Kors bags are so expensive. Not only are they made from high-quality materials and have unique designs, but they are also seen as a symbol of wealth and high class. Additionally, their limited production runs drive up prices even more.
However, the quality and investment value makes them worth the cost. With proper care and maintenance, Michael Kors bags can last for a long time and will maintain their value in the long term.
What is your favorite Michael Kors bag? Let us know in the comments below.