- West Elm Expands to London
- Vitale Barberis Canonico Fetes 350 Years
- Drew Barrymore Hosts Beverly Hills Soiree at Olive & June
CUTTING BACK AT KORS: Silas Chou and Lawrence Stroll steadily decreased their stake in Michael Kors Holdings Ltd. in 2012. At the end of the year, Chou and Stroll’s investment vehicle, Sportswear Holdings Ltd., owned 31.3 million shares of the company, or 15.6 percent of those outstanding, according to a regulatory filing Friday. The pair owned 97.9 million shares, or 51.9 percent of the company, before its December 2011 initial public offering and two following-on offerings last year. Chou and Stroll bought a majority interest in Kors in 2003 and helped parlay his designer business and television personality into blockbuster success on Wall Street. Shares of the company closed down 0.7 percent to $55.72 Friday, giving it a market capitalization of $11.1 billion.
RELATED STORY: Kors to Open at World Financial Center >>