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September 18, 2024

In federal trial, Michael Kors says it’s harder to sell handbags in TikTok and Taylor Swift era

In a federal trial, Michael Kors' representatives stated that the company finds it challenging to sell handbags in the current era of social media influencers and ubiquitous celebrities. They elaborated that popular platforms like TikTok and celebrities like Taylor Swift are reshaping consumer preferences leading to a transformation in buying patterns. In this 'TikTok and Taylor Swift Era', as they have dubbed it, younger consumers are being largely influenced by their idols on social media or in the entertainment industry, which often leads them to prefer inexpensive, trendy items over luxury products. As a result, despite being a renowned design house, Michael Kors has been grappling to keep up with the shift in these market dynamics. It underscores the larger challenge faced by traditional luxury brands as they attempt to connect with a younger demographic while maintaining their brand's exclusivity and appeal. The trial is expected to reveal more insights into these transitioning consumer behaviors and the future approaches by different fashion brands to address these changes.