MICHAEL KORS

Morgan Stanley
Global Consumer & Retail Conference
November 2015

DISCLAIMER
FORWARD LOOKING STATEMENTS

Certain information contained in this presentation, particularly information regarding future economic performance, finances, and expectations and objectives of
management, constitutes forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current
facts and generally contain words such as believes, expects, may, will, should, seeks, approximately, intends, plans, estimates or anticipates or
similar expressions. Our forward-looking statements are subject to risks and uncertainties, which may cause actual results to differ materially from those projected
or implied by the forward-looking statement. For discussion of some of the important factors that could cause these variations, please read the "Risk Factors"
section and elsewhere in the Companys Annual Report on Form 10-K (File No. 001-35368), filed on May 27, 2015 with the U.S. Securities and Exchange
Commission.

Forward-looking statements contained in this presentation are based on assumptions that we have made in light of our managements experience in the industry
as well as our perceptions of historical trends, current conditions, expected future developments and other factors that we believe are appropriate under the
circumstances. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. We do not undertake to update or
revise any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by applicable
law.

USE OF NON-GAAP FINANCIAL MEASURES

This presentation may include certain measures presented on a basis other than in accordance with generally accepted accounting principles (GAAP). These
amounts are not an alternative to GAAP. Management believes that these measures provide investors with transparency by helping to illustrate the underlying
financial and business trends relating to the Company's results of operations and financial condition and comparability between current and prior periods. Investors
are encouraged to review the reconciliation of such measures to the most directly comparable GAAP term.

MICHAEL KORS IS A GLOBAL LUXURY LIFESTYLE

BRAND THAT EMBODIES FASHION LEADERSHIP AND A
JET-SET LUXURY LIFESTYLE
POISED FOR CONTINUED MARKET SHARE GAINS WITH
EXPANDING BRAND AWARENESS AND GLOBAL PRESENCE
POSITIONED TO CAPITALIZE ON MULTIPLE GROWTH
OPPORTUNITIES
FURTHER DEVELOP GLOBAL DIGITAL FLAGSHIP STRATEGY
AND PROVIDE TRUE OMNICHANNEL CUSTOMER
EXPERIENCE
EXPAND GLOBAL PRESENCE IN BOTH EUROPE AND ASIA
EXTEND LIFESTYLE PRESENCE THROUGH EXPANSION OF
MENS BUSINESS
GROW LICENSED PRODUCT CATEGORY THROUGH THE
EXPANSION OF EYEWEAR, FRAGRANCE, JEWELRY, AND
WEARABLE TECHNOLOGY OFFERINGS
GENERATING CONSISTENT TOP AND BOTTOM LINE GROWTH,
FREE CASH FLOW AND STRONG BALANCE SHEET

DRIVING FUTURE GROWTH

INNOVATIVE PRODUCT

BRAND
COMMUNICATION

DIGITAL PRESENCE
& CRM

EXPANDED GLOBAL PRESENCE

MENS

(ASIA/EUROPE)

Thousands

TOTAL REVENUE

6,500

APPROX.

---- 4,650
---- 4,600

4,371

3,311

2,182
1,302

FY 2012

FY 2013

FY 2014

FY 2015

IN MILLIONS OF DOLLARS

FY 2016
Guidance
Range(2)

Long-Term
Goal

(1) CAGR calculated using high end of guidance range

(2) As reported in the Companys November 4, 2015 earnings release. On a constant currency basis, FY16 total revenue is expected to increase in the low-double digit range assuming a $164 million impact from the change in foreign currency rates.

Thousands

OPERATING INCOME

1,257

Approx.
1,190

1,008

Long-Term Goal
Approx.
24% - 25%

630

248

Margin

FY 2012

FY 2013

FY 2014

FY 2015

19.0%

28.9%

30.5%

28.8%

(1) CAGR calculated using guidance range

IN MILLIONS OF DOLLARS

FY 2016
Guidance
Range
Approx.
25.5%

DILUTED EARNINGS PER SHARE

APPROX.

---- $4.42
---- $4.38

$4.28

$3.22

$1.97

$0.78

FY 2012

FY 2013

FY 2014

FY 2015

FY 2016
Guidance
Range(2)

(1) CAGR calculated using high end of guidance range

(2) As reported in the Companys November 4, 2015 earnings release. On a constant currency basis, the Company expects foreign currency to impact FY16 EPS by approximately $0.19.

NORTH AMERICA REVENUE

4,200

LICENSING
WHOLESALE
RETAIL

3,419
100

2,772
117
1,663

1,939
87

1,183

1,336

913

65
545

1,656
1,319
939

573
FY 2012

FY 2013

FY 2014

IN MILLIONS OF DOLLARS
(1) CAGR calculated for FY 2012 through FY 2015

FY 2015

GOAL

EUROPE REVENUE
1,500
LICENSING
WHOLESALE

RETAIL

885
72

500

401

23

221
109

119

65
43

102

FY 2012

FY 2013

(1) CAGR calculated for FY 2012 through FY 2015

242
412
236

FY 2014

IN MILLIONS OF DOLLARS

FY 2015

GOAL

10

ASIA REVENUE
WHOLESALE
RETAIL

800
200
WHOLESALE

100
KOREA

KOREA
WHOLESALE

500
JAPAN

68
10
FY 2012

22
FY 2013

39

FY 2014

IN MILLIONS OF DOLLARS
(1) CAGR calculated for FY 2012 through FY 2015

1
67
FY 2015

GOAL

MICHAEL KORS