In the following video, Fool contributor Matt Thalman discusses why both Coach (NYSE:TPR) and Michael Kors (NYSE:CPRI) can ultimately both be winners in the fashion industry and why investors shouldn't think they can only own one of the two companies.

Although the companies compete for customers, each company could untimely win in the long run. While Coach is an older brand, it perhaps may appeal to a more mature customer -- one in which it has built a relationship with over time. While the newer Michael Kors brand may appeal to a younger demographic that hasn't yet established a long-term relationship with any one company, each company markets and focuses on reaching women, and in some cases men, of all ages.

Lastly, while Matt admits he is not an expert on the subject, he has not yet met a woman who owned only one handbag.