Michael Kors Will Soon Break Ground on European Distribution Center
Michael Kors (NYSE:KORS) is pleased to announce that it will soon break ground on a state-of-the-art distribution center in Trade Port North in Venlo, Netherlands. The new European Distribution Center (EDC) will service all of the luxury fashion brand’s European and Middle Eastern retail, wholesale and, eventually, e-commerce needs.
Construction on the 1,000,000-square-foot distribution center, designed by prominent Dutch firm DENC, is anticipated to begin next month. The center is the largest such facility in Venlo, planned to accommodate Michael Kors’ projected growth for the next 10 years.
Michael Kors’ EDC will be a green building with a host of environmentally friendly features, including LED interior lighting and a solar-panel roof. The new facility is expected to create approximately 400 jobs in the region going forward.
“The construction of a new, innovative distribution center is an important and exciting step in the evolution of Michael Kors,” says John D. Idol, Chairman and CEO of the company. “The scale and sophistication of the facility reflect our commitment to substantial growth across all channels of distribution in both Europe and the Middle East.”
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.
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.
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