November 4, 2013
You might know of Michael Kors from one of a couple of places.
You’re into high fashion, in which case you’ll know all about the designer and his fashion lines through the years.
You have watched “Project Runway” up to last season, in which case you know his caustic humor. (He departed the reality fashion design show late last year to concentrate on running his fast-expanding business.)
You shop on Apple.com, in which case you’ve seen lots of Michael Kors-designed high-end cases for iPhones and iPads (the fact that they probably annoy the crap out of you is beside the point).
If you have no interest in any of the above, you probably have no reason to know him whatsoever. Until now.
Michael Kors happens to run a company worth over $15 billion. The company went public just a few years ago, and its stock has more than doubled since then.
And it will soon join the S&P 500 – and the TSP’s C Fund, which is based on the S&P 500.
S&P Dow Jones Indices announced last week that it was adding Michael Kors to the S&P 500. The company was to become a member of the S&P 500 on Friday, November 1st , but the addition has been delayed because of a delay in the merger of IntercontinentalExchange and NYSE Euronext, which it was set to replace.
(Transocean also joined the S&P 500 last week, but how sexy is the business of contract drilling services compared to designer fashion?)