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Kenneth Cole is effectively ending its run as a brick-and-mortar retailer to focus on e-commerce, CEO Marc Schneider said in an email Friday. The move will leave Kenneth Cole with just two full-price stores in the US, a shop in New York's Bowery neighborhood and a location in Arlington, VA, reports Bloomberg. Kenneth Cole will continue to operate via licensing agreements in US retail locations as well as continuing full-price stores internationally.
Kenneth Cole opened its first store in 1984, two years after founding the brand. Kenneth Cole, who still serves as chairman and creative director, took the company private four years ago. The retailer has faced stiff competition from growing rival brands like Coach and Michael Kors. [Bloomberg]
