NEWS

Michael Kors Goes Public and Makes $666 Million in the Process

March 14, 2012

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Michael Kors has dressed ]the biggest names in Hollywood and up-and-coming ‘It’ girls like Brooklyn Decker,  Blake Lively, Rosie Huntingting-Whitley are dying to don his designs.  The designer is also taking his multimillion dollar fashion empire public this year.

Kors, according to WWD, has seen study growth for the past three decades with no signs of his brand slowing down. With fashion, beauty and accessories labels under his belt, and more women clamoring for his designs, the wise decision would be to invest in the company from the ground floor.  Getting into the stock market with Kors will cost you $20 a share.

Michael Kors himself sold some of his holding in the company when it went public, making him $666 million dollars richer.  He could get even more down the line if they decide to take their China, Hong Kong, Macau and Taiwan operations public as well.

So what does $666 million dollars get one of our favorite Project Runway judges?

The designer’s contract gives him a job for life, an annual salary of $2.5 million and creative control over products bearing his name, assuming he can stay on the right side of “commercially reasonable.” Kors is also eligible for a bonus and certain “perquisites” including life insurance, health club membership, car and driver for business purposes and tax services.

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