Michael Kors (Photo: Google)
rumor which has been mentioned Michael Kors will sell stock in his company, now confirmed already. Kors recently announced he had sold some shares of the label.
While refusing to mention the amount of shares sold, Kors said the number of shares sold, it is known the total value of the label is worth $ 2, 5 billion. Furthermore, Kors said fresh funds earned from the sale of minority shares will be employed the label expansion in Europe and Asia.
Richard Kestenbaum, an analyst Triangle Capital , New York, says Kors did the right step.
"There are only a few brands which can show the performance as Michael Kors and by doing stock sales, it can support the brand him to further develop, "he said.
Thi s year celebrates Kors their work over the past three decades in the fashion world. Prior to founding his own label, Kors gain knowledge as creative director of Celine for six years.
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