Rich People Such As Tommy Hilfiger Rushing to Invest in Michael Kors

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Photo: David Livingston/Getty Images

Michael Kors is looking for a half-billion dollars to fund his brand's global expansion by selling a 25 percent stake in his company, WWD reports. Tommy Hilfiger is reportedly one of the "high net worth" individuals Morgan Stanley recruited, without much difficulty, to invest in the company. With the round of financing closed, and awaiting finalization, Hilfiger would not reveal if this is the case, but he spoke to WWD from Europe:

“Anybody would be crazy not to invest in it. Michael Kors is the next major global player in my eyes.”

Tommy Hilfiger Eyes Stake in Michael Kors [WWD]