By  on February 4, 2014

The market value of Michael Kors Holdings Ltd. just keeps climbing, hitting $18.25 billion on Tuesday and valuing designer Michael Kors’ 2 percent stake at $365 million.

The company’s shares soared 17.3 percent Tuesday to close at $89.91 in trading on the New York Stock Exchange after Kors reported a 76.6 percent leap in net income for the third quarter ended Dec. 28 on a 59 percent rise in revenues. Shares rose as high as $93.18 in intraday trading, which represented a new 52-week high. About 23 million shares changed hands, compared with an average three-month trading volume of 4.5 million shares.

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