Tommy Hilfiger eyes investment in MICHAEL KORS
According to WWD, Tommy Hilfiger and Joel Horowitz are said to be among the private investors due to invest in MICHAEL KORS, joining their previous partners Silas Chou and Lawrence Stroll who had bought Michael Kors in 2003 for a reported US$ 100 million.
American apparel and accessories company MICHAEL KORS hired Morgan Stanley to raise US$ 500 million, for a 25% stake in the company, investment needed to fund KORS aggresive international expansion strategy with directly operated mono-brand stores. Michael Kors currently has 175 freestanding stores worldwide. The expansion plans include 50 stores in China.