According to a survey conducted by Business Wire>, Michael Kors is the most popular handbag among teenagers. Ten thousand teens across 46 states weighed in on their most coveted handbang choice, and Kors came out on top with 34%. Kate Spade was the second most popular with 19% and Coach came in third with 10%.
Despite its popularity over the past few years, Michael Kors has battled slowing sales. Back in August, the brand announced plans to pull out of department stores. It cited overexposure and saturation in the market, which was contributing to the dilution of the identity and prestige associated with the Michael Kors brand.
Around the same time, Coach also announced plans to scale back its wholesaling activities.