Cover Story: The 100 Fastest-Growing Omnichannel Retailers
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We're excited to bring you our list of the 100 fastest-growing omnichannel retailers for the 2013 fiscal year. To compile this year's list, we researched 2013 fiscal year net sales figures for all the public retail companies in the U.S. and Canada. We then compared those numbers to the previous fiscal year's net sales. After we calculated the percentage change year-over-year, we ranked each company in descending order to arrive at our top 100. We've also included select profiles that highlight specific companies on the list. Enjoy!
#1 Michael Kors
For the second time in as many years, net sales at Michael Kors grew the most of any publicly traded omnichannel retail company. The global luxury lifestyle brand posted a nearly 70 percent increase in year-over-year sales, including comparable store sales increasing 40.1 percent and wholesale net sales increasing 69.2 percent. Including licensed locations, there were 400 Michael Kors stores worldwide at the end of the 2013 fiscal year.
The good times figure to continue for Michael Kors in 2014. The company will be rolling out a redesigned website this fall, attempting to enhance the level of engagement between the brand and its customers. Traffic to the company's website increased by more than 30 percent from December 2012 to December 2013, and search volume for Michael Kors is increasing in the high double-digits as well.
In addition to rolling out a redesigned website, Michael Kors signed an exclusive eyewear license agreement with Luxottica Group in April. The agreement, which will last for 10 years, will enable Michael Kors to continue its global expansion of the brand's eyewear business. Luxottica will produce eyewear for both the Michael Kors Collection and MICHAEL Michael Kors lines. The first collection produced with Luxottica will launch in January 2015.
"We've achieved great success in the eyewear business and believe that our new partnership will further enhance our luxury image in the optical marketplace," said John D. Idol, CEO of Michael Kors, in a company press release. "Luxottica is the industry leader in eyewear, which makes it the perfect partner for our luxury brand. Our eyewear business is an important component of the overall growth strategy as we continue our expansion around the world." — Joe Keenan