Michael Kors is the most sought-after teen brand this holiday season.
Handbags and accessories from the aspirational brand top teen girls’ wish lists, according to a recent report by Piper Jaffray.
Analyst Erinn Murphy’s report provides a stunning stat that shows just how fast Michael Kors has grown.
“In our Fall
2010 survey, there were no mentions of Michael Kors among female wish lists,” Murphy writes.
In other words, the most popular current brand wasn’t even on teens’ radars three years ago.
“We found that there were more Michael Kors brand references than any other accessories brands,” Murphy writes. “In fact, the Michael Kors brand alone garnered 3.1% of the upper-income female vote–nearly 4x its nearest competitors.”
While Michael Kors is benefiting from high demand for handbags and watches, the brand’s trendy styles have helped it outpace more established competitors like Ralph Lauren and Coach.
Michael Kors’ sales increased a stunning 47% in the second quarter, the company reported last week.
The company is also the most searched-for retail brand online, according to a report by Digital Luxury Group.
Murphy writes that business will continue to improve as Michael Kors boots and sneakers become trendy.