Michael Kors Holdings Ltd. KORS -2.11% said certain stockholders plan to offer 25 million shares, as investors look to cash in following a recent run-up of the specialty retailer's shares.
Among the selling shareholders, Hong Kong private-equity firm Sportswear Holdings Ltd. will sell about 20 million shares, reducing its current 15.6% ownership stake to 5.8%, according to a filing with the Securities and Exchange Commission.
Michael Kors, the company's honorary chairman and chief creative officer, will offer three million shares, lowering his current 3.9% stake to 2.4%.
The company had about 200.3 million ordinary shares outstanding as of Feb. 13, according to the filing.
Michael Kors's stock has been on a run of late, climbing 55% over the past 12 months. The shares have jumped 15% this month alone, amid the company's latest strong sales results.
Last week, the apparel and accessories maker said fiscal third-quarter earnings surged as it continued to enjoy strong demand for its high-end merchandise and it continued to open new stores. Earnings and revenue beat expectations, and the company raised is guidance for full fiscal-year results.
The company, which went public in December 2011, sells handbags, clothing, footwear and other apparel and accessories through shops-within-shops in luxury department stores and its own company-operated shops.
Shares were off 2.8% to $63.03 after-hours trading Tuesday.
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