You Could Own A Piece Of Michael Kors For Less Than $20

Never thought you could own a piece of Michael Kors for less than $20? Well soon you can! The fashion brand is set for an initial public offering, which means its shares will finally be publicly traded — and it expects that when they hit the market, they’ll go for between $17 and $19.

RELATED: Guess How Many Billions Michael Kors Is Worth Now?

According to documents filed with the Securities and Exchange Commission Friday, the company will issue nearly 48 million shares at that price, which brings the total value of the company into the neighborhood north of $3.5 billion. (In August, Kors sold a 20 percent equity stake to a group of investors including designer Tommy Hilfiger for $500 million, which valued the company at $2.5 billion.)

Once the shares have been offered, the company will be traded on the New York Stock Exchange under the symbol KORS, which we think is fitting. Everything else about the way Kors (the company and the man) operates is branded to a tee — why shouldn’t their ticker symbol be the same?

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We’re starting to think we should have seen this coming — Other than Prada, which started slinging shares on the Hong Kong Stock Exchange in June, what other major fashion brand has shown enough sustained growth and customer interest to even qualify for an IPO? Wall Street loves nothing so much as a good growth story, and Kors is growing by leaps and bounds. In fact, in its SEC registration, the company claims:

Our total revenue was $803.3 million in Fiscal 2011 as compared to $508.1 million in Fiscal 2010, representing a 58.1% year-over-year increase. Our net income was $72.5 million in Fiscal 2011 as compared to $39.2 million in Fiscal 2010, representing a 84.7% year-over-year increase.

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Women’s Wear Daily reports the company has 169 stores in North America and 34 in Asia and Europe, but that it sees potential for as many 400 here and hundreds in each international market. And if it keeps growing at the rate it’s experiencing now, it won’t be too long before there’s a Michael Kors everywhere.

[SEC, WWD]

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