Kenneth Cole

KENNETH COLE TO SHUTTER ALL OUTLET STORES

In Retail News, What's New by Christine Galasso

Kenneth Cole

In a sweeping move, Kenneth Cole is set to close all of its 63 outlet stores within the next six months. The announcement comes as the company is looking to shift its focus away from discount shopping to building up its online and overseas business. When all is said and done, the fashion and accessory brand will only have two full-priced brick and mortar locations in the country.

“As we continue on our path of strengthening our global lifestyle brand, we look to expand our online and full-price retail footprint across the globe,” Kenneth Cole CEO Marc Schneider told Bloomberg. “We need to focus our energies and resources to better serve the consumer on their terms.”

Stateside, the brand intends to keep a presence through wholesale and licensing deals and partnerships.

The move may not come as much of a surprise, however, in an era where many luxury and better labels have to tighten up their branding and image, many are opting to do away with outlet shopping. Competitors like Coach have already started such scaling-back initiatives and are already enjoying improved sales.

The American fashion, shoe and accessory house launched in 1982 by its namesake founder.

—Christine Galasso

 

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