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Michael Kors Goes Public at the New York Stock Exchange

By Della Hasselle | December 5, 2011 3:56pm
Michael Kors is bringing some fashion to the financial sector with his own stock.
Michael Kors is bringing some fashion to the financial sector with his own stock.
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Frazer Harrison/Getty Images

DOWNTOWN — Michael Kors fans can now own more than just their share of the New York-based designer's bags, shoes and couture.

Kors is going public, bringing some fashion to the financial industry by offering his own Michael Kors stock at the New York Stock Exchange, according to reports.

The Project Runway judge will reportedly be offering 41.7 million shares, under the trade symbol KORS, for $17-19 per share, according to reports.

The public offering puts his company at a value of $3.6 billion dollars, the New York Times.

Kors has dozens of fashion awards under his belt and owns flagship stores in New York City, Beverly Hills, Chicago, Milan and London. Born in Long Island, he initially began his fashion career at the age of 19 while working for Lothar's boutique in Manhattan, according to his bio on the Project Runway website.

The designer's empire includes the original 1981 Michael Kors label; the Collections label of handbags, shoes and belts launched in 2002; the Michael Michael Kors label that carries women's ready-to-wear, swimwear and accessories; and his fragrance franchise launched in 2010 called "Very Hollywood Michael Kors."

Although Kors had filed for bankruptcy in the 1990s, he has come a far way since then. The designer is currently in his ninth season with Project Runway.

As a result of going public, the designer could now get $111 million in profits, according to Women's Wear Daily.