Michael Kors online
Uncategorized / October 28, 2017

Michael Kors Holdings Ltd. (NYSE:KORS) opened up 25% Thursday morning, after pricing its upsized 47.2 million share IPO at $20.00, above the indicated range of $17.00-19.00. Based on the $20.00 pricing, the company will have a market capitalization of approximately $3.82 billion. Morgan Stanley, J.P. Morgan and Goldman Sachs are leading the offering.Michael Kors Holdings is a rapidly growing global luxury lifestyle brand. The company’s namesake, designer Michael Kors, established the brand in 1981, at the age of 22, and is arguably described as one of the 3 most iconic American Designers (along with Ralph Lauren and Marc Jacobs). The company operates under 2 brands:Michael Kors online the Collection brand was introduced in 1981 and is the luxury brand sold in high-end retailers such as Neiman Marcus and Saks. Then there is an accessible luxury segment, Michael (Michael Kors), introduced in 2004 and positioned for the younger demographic, with sales through retailers such as Macy’s and Nordstrom. The company’s sales are divided about equal between wholesale and retail. It currently has approximately 221 retail stores worldwide, up from 166 at the end of FY 2011 (FY ends March). The company believes it can grow retail stores to approximately 600 worldwide…