Michael Kors on the Hunt for $500 Million for ‘Aggressive Global-Expansion Plans’

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By Steve Delahoyde Comment

If you have a few extra millions of dollars burning a hole in your pocket, but you don’t want to shell out that $1 billion Pierre Cardin is asking for in an outright sale of his label, perhaps your money would be better put to use in the hands of Michael Kors. The NY Post is reporting that it has discovered that the fashion mogul and television judge is attempting to raise $500 million for “aggressive global-expansion plans” for his eponymous brand. The paper reports that Kors has been keeping his fundraising efforts quiet, hitting up potential investors who are eager to chip in to help grow an empire, but won’t blow his cover. In exchange for the $500 million, Kors is apparently “looking to sell an equity stake of about 25 percent in the coming months.” Should he raise the money, it would bring the brand’s value up to “a staggering $2 billion.” Still, if you are thinking about investing your millions with Kors, we advise caution, because $500 million can also buy a very nice death ray. Given that Kors seems to always be wearing all black, the wardrobe of choice of nearly all evil masterminds, we can’t guarantee that his intentions are pure and that he hasn’t already secured an army of mole people to help him rule, post-death ray.

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