Michael Kors Holdings (NYSE:KORS) is a luxury brand company which is focused on NorthAmerica. 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, thecompany has also opened retail stores mostly in North America but also in Europe and Japan.Moving forward, KORS plans to expand its retail stores in North America while increasing itswholesale business internationally.
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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 for2010.
New Updates
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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 41.7 Mshares. The lead mangers of the deal were Morgan Stanley, JP Morgan, and Goldman.
Simultaneous Retail and Wholesale
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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.
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