Supermodel heidi klum plants a ladies and "Project Runway" Judge Michael Kors, which sold almost 120 million dollars worth of shares in its initial public offering.
Luxury lifestyle company Michael Kors holdings almost $1 billion in initial public offering, which was listed above the expected price range Wednesday raised.
All in all have been 47.2 million shares at $20, generate revenues of $ 944 million sold. At that price the company at about $3.82 billion is estimated. The offer was expected originally priced at $17 to $19 apiece for 41.7 million shares, price.
Michael Kors itself sold 5.8 million shares in the IPO. Others offer shares belong to the company Chief Executive John Idol and its largest shareholder, sportswear Holdings Ltd. The company has sold any shares itself.
Kors, a well-known fashion designer and one of the judges on the long-running TV fashion show "Project Runway", is the founder and Chief creative officer of the company.
"A company like the public even in an uncertain market based can go on their recent successes," said IPOdesktop.com analyst Francis Gaskins. "they have done right a lot of things over the last few years."
The company has stayed profitable not only by the financial crisis, but has succeeded also his win to 72.5 million $ for fiscal year 2011 almost double.
The offer follows a successful initial public offering 2.1 billion of the Italian fashion house Prada SpA and a 487 million US-dollars going public of Italian luxury Shoemaker Salvatore Ferragamo.
Has another record year, in particular for watchmaker, luxury hotels, fashion and leather goods groups see strongly after the sharp fall 2009 had a rest themselves, and analysts of the luxury goods industry 2011 be.
Michael Kors holdings with 169 branches in North America and 34 in Europe and Japan, competing with retailers such as coach, Burberry, Ralph Lauren and Hermes international.
Shares are expected to trade on Thursday on the New York Stock Exchange under the symbol "KORS."
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