Kenneth Cole is Closing Its Outlet Stores
Kenneth Cole is shutting down its outlet stores within the next six months. The fashion retailer will be closing its 63 outlet stores, leaving it with only two full-priced stores in the U.S. Kenneth Cole CEO Marc Schneider says the company is closing its outlet stores to "focus its efforts on its e-commerce site and international business."
Total Retail's Take: Kenneth Cole is joining other fashion retailers in closing physical stores, including Coach, Michael Kors, and Fossil. It is a little surprising that Kenneth Cole is abandoning the outlet store model, as that's an area of retail that has shown promise in recent years despite the overall drop in brick-and-mortar shopping. However, as more consumers go online to shop, particularly fashion buyers, Kenneth Cole is betting on these digital customers to help secure its future.