Michael Kors Holdings, a global luxury lifestyle brand with a presence in 74 countries, announced terms for its IPO on Friday. The Hong Kong-based company plans to raise $751 million by offering 41.7 million shares at a price range of $17 to $19. At the mid-point of the proposed range, Michael Kors will command a market value of $3.7 billion. Michael Kors, which was founded in 1981 and booked $1 billion in sales for the 12 months ended October 1, 2011, plans to list on the NYSE under the symbol KORS. Morgan Stanley, J.P. Morgan, and Goldman, Sachs & Co. are the lead underwriters on the deal, which is expected to price during the week of December 12.
