Michael Kors Goes Public
By: Hope Wilkos, Writer/Blogger
Photos: fashionweekdaily.com, Mercedes-Benz Fashion Website
Well respected designer, Michael Kors, is preparing for Fall 2012 Mercedes-Benz Fashion Week but he is also preparing for what could be labeled as a historic event in the fashion world. Kors is the most recent designer heading to the New York Stock Exchange for an initial public offering. Mid-month when the offering is priced, this could lead to overwhelming results for the company.
With the prospect of the value of the company hitting $3.63 billion, success is at Michael’s fingertips. There will be approximately 41.7 million shares valued at $17 to $19 per share although shares will be sold in a different manner. Kors will be reducing his portion of the company by selling 5.8 million shares. Company investor, Sportswear Holdings LTD, will also be selling 25.9 million shares. Currently their portion of the company comes to 52% and they will be relinquishing 14%.
Now that Michael Kors Holdings has filed their registration with the Securities and Exchange Commission, the IPO intent is official. Morgan Stanley, JP Morgan Chase and Goldman Sachs are managing the IPO.
The beauty of Michael Kors clothing is that it is versatile enough to be worn for any occasion, whether its career dressing or to be party bound. Whether the outfit is neutral or vivid and bright, every style flatters the figure in a smart and sophisticated manner.
Men definitely impress in Kors’ clothing with that tailored look.
Kors’ accessories, especially his handbags, have become the major trend among women who have always leaned toward designer bags such as Coach, Lauren and Dooney, overtaking those handbags in popularity these days.
The company profits have more than doubled in the last six months. Net sales have reached $520.2 million with a profit of $64.7 million. The company will trade under the NYSE ticker label of “KORS”.
The year 2012 promises to be a great year for Michael Kors. We look forward to seeing his new collection at Fall 2012 Mercedes-Benz Fashion Week.
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