Tommy Hilfiger to Fund Michael Kors Global Expansion?
Michael Kors is looking to expand his brand to be even more of a global super power according to WWD. How does one do that? They dig up a half of a billion dollars. Easy as cake! In situations like this you reach out to a major financial firm that has the clients that want to invest – insert Morgan Stanley Here. Luckily, there is a very well established and ever growing brand in Michael Kors. According to one of the Investment bankers working on the case his company wasn’t all that hard to sell: “They’ve been fairly successful in raising money. The [Michael Kors] business is very successful.” Kors is apparently planning to open 50 locations across China over the next year, then will go for an IPO soon after the private sale — something a big American label hasn’t done in a long time.
In Morgan Stanley’s search for funds, they pitched it to fashion heavy weight Tommy Hilfiger, whos own company brings in $4.6 billion in global sales and is also rumored to be working on a Tommy Hilfiger hotel to open in Manhattan. He may know a thing or two about international clothing brands, and clearly sees the pot of gold at the end of the rainbow.
“Anybody would be crazy not to invest in it. Michael Kors is the next major global player in my eyes.” Say’s Hilfiger, who has not officially confirmed his affiliation, but I think this says enough.
Now if only I had a few million dollars to throw in the pot, that would be a great investment. Darn!