Kate Spade Is Gaining On Coach And Michael Kors In The Luxury Handbag Space
$KateSpade+Bag $Coach+Handbag $MichaelKors+Bag
Originally seen on Benzinga.
The latest data from TickerTags indicate there has been a clear winner in the three-horse race among publicly traded luxury handbag makers on social media in the past year. Social media buzz surrounding luxury handbags has surged in the past year, but the majority of the chatter growth has gone to Kate Spade & Co (NYSE: KATE.) Unfortunately for shareholders of rivals Coach Inc (NYSE: COH) and Michael Kors Holdings Ltd (NYSE: KORS), neither company has been able to match Kate Spade’s rise in social media popularity.
TickerTags monitors social media sites to identify trends by searching for words and phrases that appear together in social media content, such as tweets.
Social media mentions of luxury handbags were up 27 percent in the past year. While mentions of “Kate Spade” + “bag” matched that strong growth by climbing 27 percent, mentions of “Coach” + “handbag” and were moderately up while mentions of “Michael Kors” + “bag” were down. Social media statistics seem to indicate that Kate Spade is the only one of the three that is taking full advantage of the resurgence in consumer interest in handbags.
If Coach’s Q1 earnings beat is any indication, Kate Spade shareholders could be in for some strong numbers when the company reports on May 4.
Disclosure: The author holds no position in the stocks mentioned.