The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Ricky Sandler, the head of $6.5 billion investment firm Eminence Capital, called fashion company Michael Kors Holdings Ltd. a classic example of a stock being undervalued by an unforgiving market.
“It’s a terrific brand,” Sandler said in an interview for “Wall Street Week,” which will air Sunday. “It’s still got a ton of international growth potential.”
Shares of the company, known for luxury handbags, apparel and jewelry, have dropped 57 percent from their peak in February 2014 as sales trends mostly disappointed analysts and investors. The London-based company is being careful not to expand too rapidly or to “overextend itself into outlets,” Sandler said in the interview.
The hedge fund manager said he also likes EBay Inc. and PayPal Holdings Inc., which split from EBay in July, as the mobile-payments business grows, along with game maker Zynga Inc. Sandler said he was betting against Regal Entertainment Group because the movie-theater industry is in decline.
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“Wall Street Week” is produced by SkyBridge Media, an affiliate of SkyBridge Capital, the fund-of-funds business founded by Anthony Scaramucci. SkyBridge, which sometimes has other business relationships with the show’s participants, advertisers and sponsors, pays Fox stations in key markets to broadcast the show and also streams it online every Sunday at 11 a.m. New York time.
By Josh Friedman; editors: Christian Baumgaertel, Vincent Bielski, Daniel Taub, Rob Golum.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.