Michael Kors Moves Into The K-Pop World

Following the lead of its luxury counterparts, American brand Michael Kors has been bitten by the K-pop bug as it jostles for market share in Asia.??

K-pop girl band Twice’s Dahyun is its newest global ambassador. The deal obviously elevates the relationship between the 25-year-old idol, who had previously collaborated with Michael Kors in the brand’s Spring/Summer and Fall/Winter 2023 runway shows at New York Fashion Week.

Dahyun boasts over 9.3m followers on Instagram, and major activations—including on social platforms across Asia— would certainly be on the agenda to leverage on K-pop’s massive global influence among youth.??????

Capri Holdings, the parent company of Michael Kors, has been zeroing in on Asia, particularly China, after registering a soft, single-digit global revenue growth in its earnings report in fiscal 2023.?

According to ASN data, Capri Holdings owned Michael Kors has a mere 0.9% market share for its category, investing almost US$2.9m since Q420. However, its quarterly investment for Q323 is forecasted to be US$345k,??a 34% increase from its average quarterly investment of US$256k.??Unsurprisingly, the brand’s deals tend to be focused on celebrity endorsement deals including actor Gao Yuanyuan (US$591k) and singer-actor??Wang Feifei (US$331k) in China.???

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This article was first published in ASN's August 2023 no. 1 newswire.