MICHAEL KORS Michael Kors (NYSE:KORS), a global luxury lifestyle brand, is pleased to announce that Hanjoon (Michael) Kim has been named President of Korea, a newly created position. He will report to Stephane Lafay, the Company’s President of Asia.
Mr. Kim’s appointment, effective April 13, 2015, follows the company’s recent assumption of direct control of the Michael Kors business in South Korea. In his new role, Mr. Kim will focus on building the infrastructure for this region and developing an expansion strategy for South Korea to position the business for long-term growth. “We believe that Korea represents a tremendous opportunity for Michael Kors,” says John D. Idol, Chairman and Chief Executive Officer of Michael Kors. “Michael’s appointment is an important step in building the brand’s success in the Korean market.”
Mr. Kim was most recently at Ferragamo Korea, where he held the position of Representative Director. Prior to that, he was at MCM as Chief Commercial Officer/Managing Director, following 12 years at Burberry Korea, where his most recent title was Representative Director and Vice President.
“Michael will be working closely with Stephane Lafay to execute the strategic roadmap we’ve laid out for the Asia region,” says Mr. Idol. “His organizational talent combined with his luxury brand-building experience make him an invaluable asset as we continue to build our business in Korea.”
“I’m thrilled to join Michael Kors in growing the brand’s success in Korea,” says Mr. Kim. “I look forward to building a great team to focus on the strengths and opportunities that define Michael Kors’ global business.”
About Michael Kors
Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a range of products through his Michael Kors and MICHAEL Michael Kors labels, including accessories, footwear, watches, jewelry, men’s and women’s ready-to-wear and a full line of fragrance products. Michael Kors stores are operated, either directly or through licensing partners, in some of the most prestigious cities in the world, including New York, Beverly Hills, Chicago, London, Milan, Paris, Munich, Istanbul, Dubai, Seoul, Tokyo and Hong Kong.
Forward-Looking Statements
This press release contains forward-looking statements. You should not place undue reliance on such statements because they are subject to numerous uncertainties and factors relating to the operations and business environment of the Company, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements include information concerning the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements often include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. The forward-looking statements contained in this press release are based on assumptions that the Company has made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements.
