Michael Kors, Ralph Lauren, and Coach are making the same mistake — and it’s undermining business

Many aspirational retail brands are in crisis.michael-kors-32

Companies like Ralph Lauren, Coach, and Michael Kors have reported disappointing earnings recently. Shares for all three companies have declined in the past year.

Many of the companies’ struggles can be traced back to one mistake: opening too many outlet stores.

Outlet stores sell the labels’ clothing for cheaper than department stores, giving the brands a wider audience.

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