Cutting Back on Rampant Discounts is a Big Risk for Michael Kors

"When I buy a bag, I'm buying it not just for the product, but for the story it tells about me," said Deb Gabor, CEO of branding and marketing agency Sol Marketing. "If the story it tells about me is that I can get it anywhere, and it's a mass brand and everyone else is carrying it, that may not be the story I want to tell."

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