After conquering the fashion, accessories and, of course, reality TV markets, Michael Kors Holdings is setting its sights on the next frontier: The stock market.
The company is plotting an IPO, and intends to trade under the name of KORS on the New York Stock, WWD is reporting. The company hopes to sell 48 million shares, including over-allotments, between $17 to $19 a piece–which means you will soon be able to own a small part of the company for less than $20. It also means that the company will be valued at somewhere near $3.63 billion. Not too shabby.
According to the trade, “Kors, which has both established its reputation and has room left to grow, is one of a small group of designer brands that is seen as ready to take this step,” and it’s noted that the company is one of the very few designer apparel firms to go public in recent years. Kors is also planning on opening hundreds of stores across North America, Japan and Europe.
What’s next, world domination?
Update: With his company valued at $3.63 billion, Michael Kors is expected to net a personal fortune of around $111 million, reports WWD. Wow.