Michael Kors Breaks Record with IPO

Michael Kors and his business partners Silas Chou, Lawrence Stroll, John Idol and Joseph Parsons suited up yesterday to ring the opening bell of the New York Stock Exchange and debut shares of Michael Kors Holdings Ltd. In the process, they launched the country’s biggest public offering in fashion ever.? 

Michael Kors Breaks Record with IPO

Opening at $20 a share, the KORS stock quickly jumped to $25 and over the course of the day some 42.3 million shares were traded leading to a closing price of $24.20. The company is valued at $3.82 billion, over 45 times its actual earnings, easily surpassing? Ralph Lauren‘s 1997 IPO which valued the company at $882 million.? [Vogue UK, WWD, sub req'd]