By  on September 4, 2003

NEW YORK — Michael Kors has been rumored for several months to be among the designers rushing headlong into the better market for 2004 — yet another label among the herd — but his true ambitions are much greater: He wants to become a $1 billion department store player.

The designer confirmed in an interview on Wednesday that Michael Kors Inc. will launch a new, lower-priced collection called Michael for fall 2004 retailing that exceeds the typical better-range concept both in terms of its scope — launching women’s, men’s and a host of accessories at the same time — and in terms of price point, which is closer to the entry level of bridge.

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