Michael Kors’s Second Public Offering Is Worth A Cool $1 Billion
The company is currently valued at $8.97 billion. When the company went public in December, shares started at $25; the current stock price is $47. The IPO sold 47.2 million shares, raising a total of $944 million.
Other accessory-focused companies like Kate Spade and C. Wonder are also looking to cash in, but analysts say Kors is way ahead of the curve. Douglas Hand, an attorney who sits on the Business Advisory Committee of the CFDA, told WWD: “It took [Kors] a long time to get there, and it took that business a long time to get there. He’s been relevant for three decades. It’s an objective measure, and it’s a high measure, so people will fly to it as justifying a valuation.”
It sure seems like anyone who wants to cash in on Kors should take advantage of it now.