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Michael Kors Holdings (KORS) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Michael Kors Holdings (NYSE:KORS) is a luxury brand company which is focused on North America. Michael Kors began as a luxury sportswear company but has moved into accessories, such as bags, jewelry,and watches, and general apparel. While originally a wholesaler, the company has also opened retail stores mostly in North America but also in Europe and Japan. [1] Moving forward, KORS plans to expand its retail stores in North America while increasing its wholesale business internationally.[2]
Business Overview
For the fiscal year 2011 ended on April 2, KORS reported a net sales of $758M and a net income of $73M. This was an increase over the $483M in sales and $39M in net income for 2010.[3]
New Updates
The company's initial public offering of stock on the NYSE occurred on December 14, 2011. The company offered 47.2M shares each for $20. This was above the $17-$19 price range. The deal raised a total of $944M. The company had originally announced that it would sell 41.7M shares. The lead mangers of the deal were Morgan Stanley, JP Morgan, and Goldman.[4]
Trends & Forces
Simultaneous Retail and Wholesale
KORS plans to develop both its retail stores and its wholesale presence. This dual system allows it to broaden its reach while minimizing early risk. However, continued growth of this strategy with lead to the inevitable competition of its retail stores against its wholesale distributions. Further, each of these strategies require relatively distinct skills and staff. [5]
- ↑ KORS F-1 2011 PROSPECTUS SUMMARY "Our Company" pp. 1-2
- ↑ KORS F-1 2011 PROSPECTUS SUMMARY "Our Growth Strategy" pp. 4-6
- ↑ KORS F-1 2011 PROSPECTUS SUMMARY "Summary Historical Consolidated Financial and Other Data" pp. 8-9
- ↑ Renaissance Capital - IPO Home "Michael Kors prices upsized IPO at $20, above the range" 14 Dec 2011
- ↑ KORS F-1 2011 PROSPECTUS SUMMARY "Risks Related to Our Business" pp. 11-15
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