Platinum Account Group Sees Luxury Fashion IPO Surge

2nd floor Street West, Toronto, ON, Canada, M4W 3E2 (I-Newswire) January 6, 2012 - Shares of luxury retailer Michael Kors surged 25% in their debut on the New York Stock Exchange Thursday morning.

Late Wednesday, the company priced its initial public offering at $20 a share, above its lower estimated range of $17 to $19 a share. The offering raised $944 million for the retailer, after it sold 47.2 million shares to the public.

Platinum Account Group reports that shares of Michael Kors, which began trading Thursday under the ticker KORS, were up 23% at $22.51 in early trading.

The IPO gives the company a market value of roughly $1.18 billion. At its current size, it's a smaller competitor to luxury retailers like Fortune 500 company Ralph Lauren valued at $12 billion or Burberry valued at roughly $5 billion.

Michael Kors is the clothing line named for the company's founder and CCO. Already well-known in fashion circles, Michael Kors has achieved an added degree of celebrity by serving as a judge on Bravo's Project Runway for the last five years.

- About Platinum Account Group -
Platinum Account Group is a financial services venture capital firm offering strategic advice, venture assistance, and capital to visionary entrepreneurs to help drive growth and success for their ground breaking products. To learn more about and of the available partnership opportunities with Platinum Account Group, visit http://www.platinumaccountgroup.com/

Platinum Account Group is a privately-owned company that offers you the highest quality of advice and financial service in the industry. We assist knowledgeable and discerning investors who seek the highest return on their investment. We are a wholly independent company and our contribution and service for our client’s wealth management and financial planning purposes is not restricted to particular funds or investment products we may want to implement.

We believe in long term business relationships and we are dedicated to matching the perfect adviser with every client. Our company maintains absolute faithfulness to our client’s interests through out our extensive services for wealth management, financial planning, and consultancy services.

About Platinum Account Group:
Platinum Account Group is a privately-owned company that offers you the highest quality of advice and financial service in the industry. We assist knowledgeable and discerning investors who seek the highest return on their investment. We are a wholly independent company and our contribution and service for our client’s wealth management and financial planning purposes is not restricted to particular funds or investment products we may want to implement.

Company Contact Information
Platinum Account Group
Todd Smith
2 Bloor Street West, Toronto, ON, Canada, M4W 3E2
M4W 3E2
Phone : 1-877-225-3882