Is Michael Kors a luxury brand?

Could you please clarify for me whether Michael Kors is considered a luxury brand in the fashion industry? I've noticed their products are often priced at a premium, but I'm not entirely sure if that necessarily translates to being a luxury label. Do they typically cater to a high-end clientele, or do they have a more accessible price point for a wider audience? I'm interested in understanding the brand's positioning within the market.