With the Michael Kors initial public offering on the table, Silas Chou and Lawrence Stroll might be ready to move on to their next bet.
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This story first appeared in the December 5, 2011 issue of WWD. Subscribe Today.
Reports have been circulating in the market that the duo would eventually want to finance another designer once Kors went public. And a few sources indicated that Vera Wang could be on their wish list. Wang and Chou are very good family friends, and sources said they have held conversations. But Wang is probably a year or two away from wanting to monetize her business, which is heavily weighted toward a licensed model. Wang has an apparel and accessories collection with Kohl’s, a deal with David’s Bridal and Zale’s, and numerous fragrance, beauty, accessories and home licenses, in addition to her directly owned wedding gown and ready-to-wear business.
It’s no secret that it takes Wang and her husband, Arthur Becker, many years to negotiate deals, and sources said Becker has conversations with many people about financing the business. He doesn’t use the services of an investment banker, rather he negotiates himself with his lawyer. Additional financing could provide Wang with greater penetration overseas, especially in China, and international freestanding stores. Becker couldn’t be reached Friday for comment.