Newport International Group, New Fashion Runway: Wall Street
Posted in the Business News Forum
Since: Jul 13
#1 Oct 7, 2013
With his red-carpet gowns, lush cashmere sweaters and jet-set shoulder totes, Michael Kors has influenced fellow designers across the globe.
These days, though, Mr. Kors is inspiring the fashion world not only with his “affordable luxury” merchandise, but also with the extraordinary success of his initial public offering nearly two years ago.
On Wednesday, Marc Jacobs announced his departure from Louis Vuitton to focus on an I.P.O. of his own brand. Last year, Diane von Furstenberg set off speculation about a stock offering when she hired a top-level fashion executive in a push to expand her business. And while Tory Burch has denied any near-term interest in an I.P.O., there are persistent whispers of a Wall Street debut.
Call it the Michael Kors effect.
When a company receives such an exuberant reception from stock investors, bankers say, it naturally causes similarly positioned businesses to think: Why not me?
“You might not see these designers filing for an I.P.O. tomorrow, but they have all had discussions with advisers and are positioning themselves to go public,” said a senior executive at a large investment bank who requested anonymity because of his involvement in some of those private conversations.
Read related articles here : http://newportrunway.livejournal.com/
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