Michael Kors is cementing its reputation as a fashion house to be reckoned with through its latest plan to trade on the American stock market.
Fashion bible Women's Wear Daily claims the company is plotting an IPO which will see it trading under the name of KORS on the New York Stock Exchange. The modern fashion label is optimistic that it can sell approximately 48 million shares, including over allotments, at between $17 and $19 each. The idea of owning a portion of the esteemed fashion house for less than $20 is very tempting, isn't it? We certainly don't see any of its handbags or apparel items priced so low!
If those predictions come true it’ll see Michael Kors Holdings valued at close to $3.62 billion, which while not close to the Louis Vuittons and Pradas of the world is still pretty impressive. And as it spends time in the stock market, the label should only grow. That growth will be assisted by the label's plans to open hundreds of stores in the coming years in Japan, Europe, and North America.
Michael Kors is one of only a handful of designer fashion firms to go public in recent years. Do you think it's a smart move? And would you invest in the stylish company?
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