About Michael Kors (adapted from Michael Kors prospectus):
Michael Kors KORS is a growing global luxury lifestyle brand led by a world-class management team and a renowned, award-winning designer. Since launching his namesake brand 30 years ago, Michael Kors has featured distinctive designs, materials and craftsmanship with a jet-set aesthetic that combines stylish elegance and a sporty attitude. Mr. Kors' vision has taken the Company from its beginnings as an American luxury sportswear house to a global accessories, footwear and apparel company with a presence in 74 countries. As a highly recognized luxury lifestyle brand in North America with accelerating awareness in targeted international markets, Michael Kors KORS experienced exceptional sales momentum and expects "significant future growth". Over the years, Michael Kors KORS has expanded beyond apparel into accessories (including handbags, small leather goods, eyewear, jewelry and watches) and footwear, which together now account for the majority of their wholesale and retail sales. They have also expanded distribution capabilities beyond wholesale into retail, which accounted for approximately 42.8%, 36.7% and 28.7% of total revenue in Fiscal 2011, Fiscal 2010 and Fiscal 2009, respectively. According to Michael Kors KORS "Total revenue was $803.3 million in Fiscal 2011 as compared to $508.1 million in Fiscal 2010, representing a 58.1% year-over-year increase. Our net income was $72.5 million in Fiscal 2011 as compared to $39.2 million in Fiscal 2010, representing a 84.7% year-over-year increase."
Michael Kors KORS operates in three segments — retail, wholesale and licensing. In Fiscal 2011, Michael Kors retail segment accounted for approximately 42.8% of their total revenue.
Michael Kors offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. The Michael Kors collection establishes the aesthetic authority of the entire brand and is carried in many of their own retail stores as well as in the finest luxury department stores in the world, including, among others, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Holt Renfrew, Harrods, Harvey Nichols, Selfridges, Le Bon Marché and Printemps. In 2004, they introduced the MICHAEL Michael Kors collection, which has a strong focus on accessories, in addition to offering footwear and apparel. The MICHAEL Michael Kors collection is carried in all of their own "lifestyle stores" as well as leading department stores throughout the world, including, among others, Bloomingdale's, Nordstrom, Macy's, Harrod's, Harvey Nichols, Selfridges, Printemps, Lotte, Hyundai, Isetan and Lane Crawford. Taken together, these two primary collections target a broad customer base while retaining a premium luxury image. In addition to these two primary collections, Michael Kors also offers select footwear and outerwear through the KORS Michael Kors accessible luxury collection, which is not material to net sales.This description is adapted from Michael Kors prospectus. This description is not intended to be a recommendation to buy stock from this company. We do not claim that all of the statements above were researched and found to be true. We present them as a general description based on what the company has said about itself at the time that they submitted their prospectus for an IPO offering. To see the company's full description, view their prospectus..