Michael Kors launches into childrenswear with CWF
US fashion label Michael Kors is launching into childrenswear together with Children Worldwide Fashion (CWF). The French childrenswear specialist, whose portfolio includes the licence for Lanvin as well as its own brand Billieblush, has signed a license agreement with Michael Kors to create a children’s line.
This is not the first foray made by Michael Kors, owned by US luxury group Capri Holdings (proprietor also of Versace and Jimmy Choo) into childrenswear, since the US label - which recently returned to New York Fashion Week - already commercialises a kids footwear line, produced under license with US company Synclaire Brands.
With the Michael Kors international license deal, CWF is strengthening its connection with the world of luxury, being also the licensee for Chloé, Marc Jacobs, Kenzo Kids and Givenchy. CWF, which also operates the Kids Around multibrand retail chain, is forecasting annual sales of €260 million in 2021, up from €210 million in 2020.
Capri Holdings is instead targeting a revenue of approximately $5.1 billion (€4.2 billion) for the 2022 financial year. It should be noted that last August Joshua Schulman was appointed general manager of Michael Kors. He will take charge of Capri Holdings as a whole in September 2022.
Copyright © 2023 FashionNetwork.com All rights reserved.