Photography by Evan Agostini/Getty Images
Fur coat not enough? You can now own a piece of Michael Kors in ways other than clothing, (or for that matter, accessories, or fragrances, or jewellery, or shoes…) It was announced Friday that the label is going public, and planning to sell up to 48 million shares on the New York Stock Exchange. Now it’s being reported that the company’s value is around $3.62 billion, giving the designer a cool $111 million as part of an initial public offering.
While Kors will begin a road show, starting at the Pierre Hotel in New York this week to try to win over potential investors, his business partners Silas Chou and Lawrence Stroll are apparently interested in Vera Wang’s bridal empire and plan to wine and dine Wang’s husband Arthur Becker into coming on board. Wang has many successful license partnerships with American retailers including Kohls and David’s Bridal, but her main collection only makes up a small part of her profits and Chou and Stroll are looking to invest in its growth.
If Wang wants to make some serious dough, the designer and her husband should look no further. Chou and Stroll’s part in transforming Kors’ company after it went bankrupt in the nineties is proof these guys are the ones you want on your team if you’re a designer who wants to dominate the fashion world. Read more »
