LONDON--(BUSINESS WIRE)--Michael Kors (NYSE:KORS), a global luxury lifestyle brand, is delighted to announce a new partnership with McLaren-Honda, becoming the official lifestyle partner of the world championship Formula 1 team. Both McLaren-Honda and Michael Kors celebrate design and speed, with the partnership strengthening and amplifying both brands’ embodiment of a fast, jet-set lifestyle.
“Michael Kors and McLaren-Honda are pioneers in their respective spaces, and we firmly believe that McLaren-Honda is the right partner for our entry into the Formula 1 racing world,” says John D. Idol, Chairman and Chief Executive Officer of Michael Kors. “This is an exciting moment for us, especially as we continue to grow as a men’s lifestyle brand.”
The Formula 1 audience is a new one for Michael Kors, providing a prime opportunity to familiarize the European consumer with all facets of the Michael Kors world. Additionally, the legendary McLaren-Honda brand and its renowned Formula 1 drivers are an exceptional representation of the Michael Kors man—sophisticated, international and successful, with an appreciation for living life in the fast lane.
“We’re delighted to announce a brand-new partnership between McLaren- Honda and Michael Kors, the world-famous award-winning designer of luxury accessories and ready-to-wear apparel,” says Ron Dennis, Executive Chairman and CEO McLaren Group.
He continues, “Like McLaren, which has raced in Formula 1 all over the world for the past 50 years, Michael Kors is also a truly international company, operating stylish and successful stores 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.
“Moreover, I firmly believe that the corporate cultures of both McLaren and Michael Kors encompass a common dynamism and adventurism, as well as a shared commitment to a similarly relentless pursuit of perfection, and as such the two brands are extremely well suited to a long-term partnership. That brand fit is very important to both of us: both companies have built their reputations on being the very best at what they do, and, as we now march forward together, we’ll both become stronger still.”
As the team’s official lifestyle partner, Michael Kors branding will feature prominently on both the driver overalls and the McLaren-Honda MP4-31 car.
To celebrate the launch of the partnership, Michael Kors has created a limited-edition men’s leather jacket. The 50 specially produced black leather jackets will be sold exclusively on the men’s floor of the new Michael Kors London flagship store, while supplies last. The jackets feature both the Michael Kors and McLaren logos, as well as a limited-edition plaque with each piece’s unique production number.
“This partnership is about the convergence of style and speed, which is inherent to both the Michael Kors and McLaren-Honda DNA,” says Michael Kors. “There is an energy, sophistication and confidence to both of our brands, and we wanted to create a limited-edition piece that spoke to that.”
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 under Michael Kors Collection, MICHAEL Michael Kors and Michael Kors Mens, including accessories, footwear, watches, jewelry, 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.
About McLaren Technology Group
McLaren is globally renowned as one of sport’s most successful competitors and as one of the world’s most illustrious high-technology brands.
The McLaren Technology Group has grown to encompass much more than just motorsport: today it houses McLaren Applied Technologies, which supplies electronic systems to the entire Formula 1, Indycar and NASCAR grids and creates cutting-edge solutions for a wide variety of high-tech industries. McLaren Automotive has established itself as a successful global company having launched the internationally acclaimed 12C, 650S and McLaren P1™ high-performance cars.
McLaren-Honda campaigns the 2016 FIA Formula 1 World Championship with the driver pairing of two-time (2005, 2006) world champion Fernando Alonso and 2009 world champion Jenson Button. They drive the McLaren-Honda MP4-31.
This press release contains forward-looking statements about Michael Kors and McLaren. 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 each company, all of which are difficult to predict and many of which are beyond such company’s control. Forward-looking statements include information concerning each 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 each 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 each 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. These factors are more fully discussed in the “Risk Factors” section and elsewhere in the Michael Kors Annual Report on Form 10-K for the fiscal year ended April 2, 2016 (File No. 001-35368), filed on June 1, 2016 with the U.S. Securities and Exchange Commission.