Michael Kors to join wearable tech movement

How to trade the retail earnings
How to trade the retail earnings

Fashion-savvy fans of wearable tech will need to keep their eyes peeled over the next few months.

On Michael Kors' call Thursday, CEO John Idol told analysts and investors that the affordable luxury brand "will be in wearables," and expects to deliver announcements on that front in coming months.

"That is coming from Michael Kors," Idol said, adding that the brand is not interested in being first to the market. Instead, he wants to take the time to develop a product that's viable for shoppers' everyday lives.

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"We think luxury is not just about products, it's about a lifestyle," Idol said.

The company declined to offer further details on what types of wearable tech it will offer.

In September, Fossil—which holds the license for Michael Kors watches—linked up with Intel to collaborate on wearable technology for the fashion industry. Idol said on the call that Kors is working with Fossil on that tie-up.

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Designers such as Rebecca Minkoff and Tory Burch have already entered the wearable tech space.

For its part, Kors continues to focus on watches and jewelry as a pillar of growth moving forward. Idol said the company sees opportunity for 500 watch and jewelry shop-in-shops worldwide, more than double its current footprint of 230.

Kors on Thursday announced earnings per share of $1.48, easily beating consensus estimates. Its $1.3 billion in sales also topped estimates, though its domestic same-store sales growth slowed to 6.8 percent on a constant currency basis.