Michael Kors Holdings Limited has filed its paperwork with the SEC to conduct a U.S. initial public offering.  The luxury goods and apparel maker sells to the jet-set crowd.  The IPO paperwork (F-1) shows that certain members of management and other shareholders will be offering all of the ordinary shares under this prospectus and the company will not receive proceeds from the sales made by shareholders.

The offering calls for a price per share between $17.00 and $19.00 for some 41,700,000 Ordinary Shares.  The company has also been authorized to list the ordinary shares on the New York Stock Exchange under the “KORS” stock ticker.

The syndicate is large and includes Morgan Stanley, J.P. Morgan, Goldman Sachs, Baird, Jefferies, Nomura, and Piper Jaffray.  These underwriters will also have a 30-day option to purchase up to an additional 6,255,000 ordinary shares from the selling shareholders.

Michael Kors calls itself “a rapidly 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.”

Total revenue was $803.3 million in Fiscal 2011, up from $508.1 million in Fiscal 2010.  In the same periods, net income was $72.5 million in Fiscal 2011 versus $39.2 million in Fiscal 2010.  Sales growth north of 50% and more than 80% income growth.  For the 6-months ended on October 1, the sales were $520.2 million in 2011 versus $322.4 million and net income in the same period grew to $50.5 million from $21.4 million.

The Full F-1 Filing with more detail is available here.

JON C. OGG

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