Fashion label Michael Kors wants to go high-tech

New York

THE fashion label known for its MK-print handbags that try to embody "jet-set" glamour told analysts that it has plans for wearable technology and would announce specifics in the "next few months". "We will be in wearables," said John Idol, chief executive of Michael Kors. "So I will tell you that that is coming from Michael Kors. And we have a whole strategy around it."

The company has previously hinted at its interest in tech-centred products, including selling lipstick tubes and compact mirrors that double as portable phone chargers. In 2014, it designed styles for the Duracell Powermat, a wireless phone-charging device complete with the signature MK logo print.

Mr Idol noted the company's existing relationship with Fossil, which makes Michael Kors watches and in 2014 entered into partnerships with Intel and Google to develop wearable technology for the fashion industry. Michael Kors declined to provide additional information on its plans for wearable gear.

An icon of "affordable luxury", Michael Kors is in a period of mass expansion and is entering new markets, opening more stores and releasing new product lines. Total revenue rose 30 per cent, to US$1.31 billion, for the quarter ended Dec 27. Shares dipped as much as 5.8 per cent on Thursday, however, after the company reported disappointing North American sales.

The company will join other fashion powerhouses on the wearable tech bandwagon driven by the popularity of smart watches and fitness wristbands. Diane Von Furstenberg has recently created new frames for Google Glass, while Ralph Lauren sells a bag with an internal LED light and a USB port. Rebecca Minkoff has Bluetooth-equipped bracelets that light up when your phone receives a text or call.

Michael Kors, however, seems to be taking it slow. "We're not interested in being the first one to rush to the race," said Mr Idol. Bloomberg