Kors sets fashion IPO record

Michael Kors launched the biggest fashion IPO in US history on Thursday when he took his company public on the New York Stock Exchange.

By ELLE UK and NonePublished: 16 December 2011

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Shares priced $20 apiece jumped 25% upon their debut in a deal that valued the company at nearly $4bn. The IPO exceeded the previous record achieved by a fashion designer taking his company public, set when Ralph Lauren floated to the tune of $882m in 1997.

Looking on with a grin was Kors himself. The designer, accompanied by his mother and company executives, said he felt great as he rang the stock exchanges opening bell in celebration of the newest ticker on the stock boards: KORS.

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