Post-IPO, CEO John Idol On What?ˉs Next For Michael Kors

The decision to transition the business behind Michael Kors?ˉ fashion empire into a public company was a tough one for its CEO, John Idol.

?°I didn?ˉt want to go public, ?± Idol said during a speech at Wharton yesterday organized as part of Penn Fashion Week.

?°I?ˉve run four public companies, and the hardest thing to do when you run a public company is to not change the way you?ˉre running the business because you have investors and, more importantly, Wall Street looking over your shoulder. ?±

But Idol and the firm?ˉs leadership team ultimately decided to make the leap. The company debuted on the New York Stock Exchange in December, pricing its shares above estimates at $20 each, raising $944 million. The shares have more than doubled in value since, and last week the firm announced that it would sell more than $1 billion in stock in a secondary offering.
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