Michael Kors -USA-, Inc. Announces MICHAEL Michael Kors New Men's and Women's Collections to Launch at Retail for Fall 2004

NEW YORK--(BUSINESS WIRE)--Sept. 4, 2003--Michael Kors (USA), Inc. announced today that it would launch MICHAEL Michael Kors, a dynamic new collection for men and women. The collections will fill a gap in the marketplace for affordable luxury, and will be the most extensive, all-encompassing launch ever in this arena.

MICHAEL Michael Kors will be based upon the 22 year heritage of the design house and bring the vision of affordable luxury, and understandably chic designs to a broader audience. The collections will be sold at select retail locations beginning with the Fall 2004 season, with an initial roll out of approximately 250 department and specialty store doors for each of the men's, women's, and accessories MICHAEL collections. To coordinate with the new collections, the Company plans to simultaneously introduce watches, swimwear, belts, coats, men's dress shirts, clothing and neckwear under the MICHAEL Michael Kors label. A talented team of seasoned professionals with proven track records has been assembled to bring the new collections to the market.

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MICHAEL will be focused around Mr. Kors' chic, American style with attention to detail and quality. Cashmere, leather, suede, lightweight wools, fine European cottons, and doubleface finishing will all be key components of both the men's and women's MICHAEL collections. Prices for the women's collection are expected to range from $195 to $395 for a jacket, $95 to $195 for a dress, pants from $69 to $149, and knitwear from $59 to $159. Men's price points are expected to range from $295 to $495 for jackets, shirts from $59 to $129, pants from $59 to $129 and knitwear from $49 to $179. The accessory collections will consist of handbags and small leather goods, and are expected to range from $49 to $350, and footwear will be $99 to $159.

"I have always been a designer who is interested in my customer. I've spent a lot of time at trunk shows in the past and met many men and women who are interested in fashion and love what I do; they just cannot afford my Collection label. With this launch, we'll finally be able to answer all lifestyle needs," stated Mr. Kors. "MICHAEL is wearable and appropriate fashion, and will always be rooted in luxury."

Lawrence Stroll, Co-Chairman of Michael Kors added, "There is a real void in the marketplace for affordable luxury. After realizing the huge potential of the Michael Kors name, coupled with our 22-year history as a design house, Silas, Michael and I decided that this would be a great endeavour for us all. With Michael's knowledge of the customer, and his genuine enthusiasm, we will fulfill all our customers needs. We have previously stated that we intend to make Michael Kors the next great American luxury designer brand, and with the launch of MICHAEL, in addition to the existing efforts underway to strengthen the Michael Kors Collection, we'll be one step closer towards achieving that goal."

The MICHAEL Michael Kors collections will launch with a significant marketing and branding campaign. Lifestyle driven print advertising will debut in late summer 2004, and MICHAEL Michael Kors will have a strong retail presence with a distinctively designed shop-in-shop program for a unique visual presentation. Additionally, the Company's plans include direct mail vehicles, in store promotions, and various strategic marketing efforts.

Michael Kors is recognized as one of America's pre-eminent designers for luxury sportswear. His namesake company, established in 1981, currently produces a range of products through his Michael Kors Collection, KORS Michael Kors, and soon to be launched MICHAEL Michael Kors labels, including women's and men's ready to wear, women's accessories, and a full line of fragrance and beauty products for both women and men.