Michael Kors Holdings Ltd was incorporated on December 13, 2002 as a limited liability company under the laws of the British Virgin Islands. The Company is a global luxury lifestyle brand led by a world-class management team and a renowned, award-winning designer. It operates its business in three segments: retail, wholesale and licensing. In Fiscal 2012, its retail segment accounted for approximately 48.1% of its total revenue. As of March 31, 2012, its retail segment included: 191 North American retail stores, including concessions; and 46 international retail stores, including concessions, in Europe and Japan. In Fiscal 2012, its wholesale segment accounted for approximately 46.9% of its total revenue. As of March 31, 2012, its wholesale segment included: wholesale sales through approximately 2,027 department store and specialty store doors in North America; and wholesale sales through approximately 650 department store and specialty store doors internationally. Its remaining revenue is generated through its licensing segment; through which it license to third parties certain production, sales and/or distribution rights. In Fiscal 2012, its licensing segment accounted for approximately 5.0% of its total revenue and consisted primarily of royalties earned on licensed products and its geographic licenses. It offers two primary collections: the Michael Kors luxury collection and the MICHAEL Michael Kors accessible luxury collection. The Michael Kors collection establishes the aesthetic authority of its entire brand and is carried in many of its retail stores as well as in the finest luxury department stores in the world, including, among others, Bergdorf Goodman, Saks Fifth Avenue, Neiman Marcus, Holt Renfrew, Harrods, Harvey Nichols, Selfridges, Le Bon Marché and Printemps. he MICHAEL Michael Kors collection is carried in all of its lifestyle stores as well as leading department stores throughout the world, including, among others, Bloomingdale's, Nordstrom, Macy's, Harrods, Harvey Nichols, Selfridges, Printemps, Lotte, Hyundai, Isetan and Lane Crawford. Taken together, its two primary collections target a broad customer base while retaining a premium luxury image. In addition to these two primary collections, it also offers select footwear and outerwear through its KORS Michael Kors accessible luxury collection, which is not material to its net sales.