KORS SIGNS DEAL FOR LINE OF SHOES

NEW YORK — In another step aimed at building an accessories business, Michael Kors has signed a licensing agreement with Schwartz & Benjamin to launch a shoe collection for spring 2001.
The agreement, which covers North America, follows recent Kors moves in the accessories arena. In January, the company hired Richard Sinnott as creative director of accessories, a new post. In February, Kors inked a deal with Paris-based Le Tanneur & Cie to produce a handbag and leather goods collection.
The signature shoe collection will be sold in department and specialty stores and will carry retail prices starting at about $200 and running up to $1,200 for specialty items, although most core items will retail in the $275 to $350 range. The collection will encompass a range of materials and styles.
“Our shoes will be luxurious, while still practical,” said Sinnott.
Design and marketing will be handled at Kors’s New York office, and sales and manufacturing will be done by Schwartz & Benjamin, which also holds the license for Anne Klein and Anne Klein Collection.
Kors, which is one-third owned by LVMH Moet Hennessy Louis Vuitton, has stated plans to enter a range of accessories categories, including handbags, footwear and eyewear.

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