Fashion Leads the Way

Bravely diving into the breach, what what, Burberry goes ahead with its IPO. Investor confidence wavers today, but consumer confidence in a dynamic business with a well-defined and forward-looking brand and brand evolution persists! They offered at the low end of the estimated capital value of the company, which makes sense in this environment, but the road to capital markets is littered with many less-than-successful IPOs (like Donna Karan, which earned me a good capital loss tax deduction a couple of years ago; that’s why I’ve moved to mutual funds entirely!). I’ll be interested to see how long-lived their brand capital and their profitability are, and the corresponding share values.