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Unlike Best Buy, lululemon, and Coach are fashion Michael Kors handbags retailers. This means they won't benefit from the wearables market by simply selling another brand's products. Instead, they need to team up with a company such as Fitbit or Intel to create lululemon and Coach branded "smart fashion." This isn't a new approach. High end retailers including Ralph Lauren and Tory Burch have already launched smart fashion pieces as part of their upcoming Fall collections.
Replica Michael Kors Handbags
Tory Burch, for example, teamed up with Fitbit to create a Replica Michael Kors Handbags metal hinged bracelet and other jewelry accessories that house Fitbit's flex fitness tracker. Coach could benefit from a similar partnership. The handbag and accessories retailer has suffered lately because of increased competition from Michael Kors. However, if Coach were to introduce smart accessories like the Tory Burch Fitbit fret necklace, the new product mix could help reverse the company's profit declines and boost same store sales.
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Moving into smart fashion and wearables is also a natural fit for Michael Kors from china lululemon. After all, the yoga inspired apparel maker is known for its technical fabrics and sweat wicking apparel. Moreover, the technology is already here. "Advances in nanotechnology, which allow manufacturers to control materials on a molecular scale, have enabled researchers to develop smart textiles," writes the Business of Fashion magazine.
Today, the technology to create jackets with Replica Michael Kors HandbagsReplica Michael Kors Handbagstiny built in sensors Michael Kors that could heat or cool the material based on current weather conditions exists. Now it's up to forward thinking fashion brands such as lululemon and Coach to take advantage of this tech. Retailers from Coach and lululemon to Best Buy now have an opportunity to boost sales by refreshing their product mix to include wearable tech.