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Fashion icon michael kors handbags on sale, who stars in the hit reality show "Project Runway," has seen the value of his sizzling-hot label reach $2.5 billion.The private placement was completed late last month, sources said, and the cash will be used to fuel an international growth spurt that will roll out fancy boutiques on posh shopping strips worldwide while raising the brand's profile in Europe and Asia.An IPO could come as soon as spring 2012, according to a source.Among the investors who ponied up cash in exchange for preferred convertible shares in Michael Kors were billionaire fashion designer Tommy Hilfiger and members of his inner circle, as well as sovereign wealth funds, the source added.
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