Kenneth Cole Productions, New York-based fashion house, has decided to shut its 63 outlet stores over the next six months. This will effectively end its run as a US brick-and-mortar chain.
Kenneth Cole currently lists just two full-priced stores in the US, one in New York and other one in Arlington, Virginia. The company will be focusing on its e-commerce site and international business. It will continue to sell merchandise through other retailers.
Marc Schneider, Chief Executive Officer of the company said, “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. We need to focus our energies and resources to better serve the consumer on their terms.”
Kenneth Cole’s outlet shops have faced increasing competition from rivals such as Coach Inc. and Michael Kors Holdings Ltd. As part of its transformation, the brand has begun relying more on licensing deals, which generate revenue from its name without the need for physical stores.
