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Capri Holdings CEO John D. Idol has a plan to turn around Michael Kors: Sell bags that shoppers want, at prices they’re willing to pay.
“Our issue is we have pricing that is out of line for what the customer’s expectation is,” Idol told analysts and investors in a conference call last week after its $8.5 billion sale to rival Tapestry was terminated. “They’re being much more choiceful today than they were two years ago.”
This means bringing back more affordable monogrammed…
