Kors chairman and chief executive officer John Idol is set to sell 2.9 million shares, amounting to $151.7 million. Idol would be left with 4.4 million shares.
Sportswear Holdings Ltd. is selling 14.4 million shares, which would total $764.8 million. That will leave Sportswear owning 33.8 million shares of Kors. Sportswear is the investment vehicle of Silas K.F. Chou and Lawrence S. Stroll, who each own a 50 percent interest in the entity.
The Hong Kong-based apparel firm’s stock fell 4 percent to $52.30 Tuesday.