TOKYO — Michael Michael Kors will debut in the Japanese market this fall through a licensing agreement with Onward Kashiyama Co.
Onward also brought the first line, Michael Kors, to Japan in 2002 and operates a Michael Kors flagship in Aoyama, Tokyo.
All existing Kors shop-in-shops in department stores will be switched to the new Michael Michael Kors brand, Onward said,?noting that the women’s wear line will go on sale in the fall in about 50 shop-in-shops, while new units for bags and jewelry will be set up in department stores for spring-summer 2005. There are plans to add the men’s line in fall 2005.
Onward is projecting sales of Michael Michael Kors women’s wear in the second year of operation in Japan at $44.6 million, or 5 billion yen at current exchange rates.
Prices for wool coats will range from $647, or 72,450 yen, to $1,406, or 157,500 yen, while jackets will sell for $309, or 34,650 yen, to $647, or 72,450 yen. Dresses will be priced at $218, or 24,150 yen, to $366, or 40,950 yen.
Onward said it will promote the Michael Michael Kors line as “affordable luxury,” targeting women around age 30.
The flagship for the main collection will continue to operate, Onward said, noting it expects Kors’ first and second lines to grow into one of its most important product collections.