Kenneth Cole Is Shutting Down All Of It’s Outlet Stores
by Madeline Farber – November 13, 2016, 2:30 PM EST
If you love Kenneth Cole outlet stores, you better shop fast: The fashion retailer is shutting all of them down within the next six months.
Closing its 63 outlet stores comes as the company is “focusing its efforts on its e-commerce site and international business,” Kenneth Cole CEO Marc Schneider first told Bloomberg. Once closed, the retailer will only have two-full priced stores left in the U.S.—one in New York’s Bowery neighborhood and the other in Arlington, Va.
“As we continue on our path of strengthening our global lifestyle brand, we look to expand our online and full-price retail footprint across the globe,” he said. “We need to focus our energies and resources to better serve the consumer on their terms.”
Although the company will continue to sell its merchandise online and through other retailers, Kenneth Cole is looking to licensing deals to generate revenue from its name, Bloomberg reports.
As more spending moves online, other fashion retailers—like Michael Kors, Coach, Ralph Lauren, and Fossil—have also closed down many of their storefronts in recent years.
Kenneth Cole opened its first store in 1984 on New York’s Upper West Side, just two years after the brand was created, according to Bloomberg.