initial public offerings (IPOs) trading on American exchanges

Thursday, December 15, 2011

Michael Kors (KORS) started trading on the NYSE on 15 Dec 2011

After pricing at $20 — higher than the expected $17-19 range — Michael Kors shares debuted with a 25 percent pop.
  • KORS raised almost $1 billion on its first day of trading
  • For the first half of 2011, revenues are up 60%, profit almost doubled
  • With under 200 stores in North America, the company projects a potential rollout to 400.
  • Internationally, the company has 37 stores in Japan and Europe and is looking for a potential of 100 in each market. You can find Kors products in over 2,000 wholesale points (Harrod's, Saks, Bergdorf)

Michael Kors with his mother Joan outside of the NYSE 

Michael Kors Holdings Limited EVP, CFO & COO Joe Parsons; Michael Kors Holdings Limited Director Lawrence Stroll; NYSE Euronext SVP David Ethridge; Michael Kors Holdings Limited Honorary Chairman & Chief Creative Officer Michael Kors; Michael Kors Holdings Limited Director Silas Chou and Michael Kors Holdings Limited Chairman & CEO John Idol ring the NYSE Opening Bell to celebrate the company’s IPO on the NYSE

Michael Kors with husband Lance Lepere outside of the NYSE 

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