NEW YORK — The Kors Michael Kors store at 159 Mercer Street in SoHo here will close on Jan. 24, following the anticipated termination of Michael Kors Inc.’s bridge license with Onward Kashiyama USA.
Under its ownership by Sportswear Holdings Ltd. for the past year, Michael Kors has been focusing on the development of a new better-priced collection called Michael Michael Kors that will begin selling at retail in department stores for fall.
Meanwhile, the company is phasing out the Kors product, targeted toward bridge customers in department stores and in the red-and-white Kors flagship that opened in SoHo in 2001. Final deliveries of the Kors line were for holiday retailing.
When Lawrence Stroll and Silas Chou, co-chairmen of Sportswear Holdings, announced their intentions to build the Michael business in-house and terminate the Kors license, Stroll said he did not know Kashiyama’s plans for the Kors retail location, but that it would not continue as a Kors store. Kashiyama, which has been paring its other American businesses over the past year, did not return messages left at the company’s New York office on Tuesday.
A letter was sent to customers this week informing them of the store’s closure on Jan. 24. A spokeswoman for Michael Kors said she had no further information on the closing.
This story first appeared in the January 14, 2004 issue of WWD. Subscribe Today.