Kenneth Cole is shutting down its outlet stores within the next six months. The fashion retailer will be closing its 63 outlet stores, leaving it with only two full-priced stores in the U.S. Kenneth Cole CEO Marc Schneider says the company is closing its outlet stores to "focus its efforts on its e-commerce site and international business."
Total Retail's Take: Kenneth Cole is joining other fashion retailers in closing physical stores, including Coach, Michael Kors, and Fossil. It is a little surprising that Kenneth Cole is abandoning the outlet store model, as that's an area of retail that has shown promise in recent years despite the overall drop in brick-and-mortar shopping. However, as more consumers go online to shop, particularly fashion buyers, Kenneth Cole is betting on these digital customers to help secure its future.
- People:
- Marc Schneider