NYC, NY, United States (AHN) – The IPO calendar over the past several months has been buzzing about internet and social networking companies. But next week, sophisticated and fashionable eyes will be focused on the initial public offering from the luxury clothing company Michael Kors.
The New York label said in a regulatory filing on Dec. 2, that it is offering 41.7 million shares at a price between $17 and $19 each. The expected date for the company’s debut is Dec. 14.
Michael Kors, the designer who founded the company, is attempting  to cash in as high-end retailers have been outperforming mid-priced department stores and discounters over the past year. Net income for the company in the fiscal year ending April 2 rose 85 percent to $72.5 million on rising sales.
The Michael Kors luxury brand offers apparel, eyewear, leather handbags, shoes and jeans among its expansive and posh collection.
Boutiques are currently thriving in New York, Beverly Hills, Palm Beach and Chicago. In 2011, the company celebrates 30 years in  business.
Founder Kors is planning to sell 5.8 million shares in the IPO, reducing his stake to 8.6 percent.
Managing the IPO are financial powerhouses Morgan Stanley, JPMorgan Chase and Goldman Sachs.