Brands struggling with increase in promotions

Endaba Group

Ralph Lauren and Michael Kors have been 2 of the biggest victims as retailers rely more heavily on promotions to drive traffic. Fashion brands slashed prices by as much as 80% earlier this year, and whilst this helped struggling department stores, the trend has tarnished brands by changing consumer expectations. For brands meant to connote luxury, it’s a balancing act to clear inventory whilst also upholding their reputation. Brands are trying to regain control; Michael Kors are ending all family and friends coupons, Ralph Lauren are reducing excess inventory and Coach plans to close 25% of its department-store locations!