Watches drive licensing revenues at Michael Kors

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The licensing division of fashion house Michael Kors registered a 13% uplift in revenues that it said was driven primarily by the success of its watch lines.

Licensing revenue at Michael Kors rose to US$19.9 million in the quarter ending September 29 and Michael Kors said that it expects the division to continue to perform well, bolstered by the strong sales of its watches through distributer Fossil Group.

Michael Kors chairman and chief executive John Idol said: “In our licensing segment, we achieved 13% growth, which was driven primarily by ongoing strength in watches. We remain very excited about the long-term growth prospects for our company as a global luxury lifestyle brand."

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The Michael Kors brand as a whole delivered strong Q2 results with total revenue in the period up 74%, retail sales up 82%, wholesale net sales up 75% and gross profit up 80%.

Michael Kors operated 269 retail stores, including concessions, compared to 203 retail stores, including concessions, at the end of the same prior-year period. The company had 80 additional retail stores, including concessions, operated through licensing partners.

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