Dive Summary:
- Beginning on Nov. 1, Michael Kors will be added to the S&P 500 after entering the NYSE in 2011.
- Shares for the company have skyrocketed by more than 215% since going public and the company is preparing to announce its official earnings on Nov. 5.
- According to Forbes, Michael Kors has benefitted from a strengthening economy and robust demand for the line which has aided the brand in outperforming competitors Coach and Burberry in 2013.
Dive Insight:
The Michael Kors designer sportswear line has made a name for itself throughout the U.S. by catering to both men and women. The brand has enjoyed the benefits of sustained demand for its upscale fashion line, which has contributed to its continued rise. In July of 2013, Michael Kors joined Tiffany & Co. in a lawsuit against Costco, alleging that the discount chain falsely claimed to be selling Michael Kors merchandise.
