The fabulous American fashion designer, Michael Kors, is planning to IPO and list shares on the New York Stock Exchange. Kors plans to raise about $800 million to help propel the growth of the company.
The luxury sector has been doing fairly well considering the current state of the economy. Revenues at Michael Kors have reached $803.3 million, which is a whopping 58.1% increase versus last year. Not bad for Mr. Kors, considering he dropped out of FIT and turned the company around after a Chapter 11 bankruptcy in 1993.