Private investors concluded the purchase of a stake of unknown size last month, the New York Post
reported. The brand is understood to have sought new funding to fuel its international growth strategy.
This is luxury's day, Richard Kestenbaum of New York investment bank Triangle Capital told the NYP. [T]here are very few brands that are performing on the scale of Michael Kors
, and that have as much room left to grow in different channels and parts of the world.
Earlier this year, Kors hired investment bank Morgan Stanley to advise it on raising $500m to fund expansion efforts.
The brand has doubled in size over the past four years and boasts more than 100 stores worldwide.
Take a look at Michael Kors' Autumn/Winter collection...