The US retailer will shut doors to 63 bricks-and-mortar stores and focus on building online and full-price stores
US fashion, footwear and accessories retailer Kenneth Cole has announced the decision to shut down its entire US outlet division comprising 63 stores.
The retailer recently launched its fragrance Mankind Hero, which was made available through its stores as well as online and via Macy’s, and its scent Blue (pictured) in May. Both fragrances were created under a license agreement with Parlux.
The retailer, however, has decided to focus on expanding its online and full-price retail footprint worldwide.
We need to focus our energies and resources to better serve the consumer on their terms.
In a statement shared with Cosmetics Business, Marc Schneider, CEO of Kenneth Cole, said: “We need to focus our energies and resources to better serve the consumer on their terms. That said, over the next six months we will be closing our US outlet division.”
Schneider explained that the company is continuing on its path of stregthening its global lifestyle brand and that its goal is to be the global standard for New York style and social consciousness.
After closing its outlet division, the company will continue to operate its remaining two full-price stores, according to Bloomberg.
The company already sells its products through other retailers and will reportedly continue to do this.
Kenneth Cole operates under Kenneth Cole Productions, which has granted a wide range of third party licenses for the production of fragrances, as well as clothing, accessories and children’s footwear. The company was created more than 30 years ago.