liz claiborne had a weak product portfolio. this company whether you want to call it liz or fifth pacific or the kate spade and company has had an incredible turnaround and it's sold a lot of its brands and jetson and liz claiborne making jc penney its exclusive retail. tonight between sold dana buchman to kohl's and manage said they would focus three brands, juicy couture, lucky brands and that's a jean company, and kate spade. last year they sold off juicy and lucky and focused almost exclusively on their best brand, kate spade. craig lelevitt, the man running the brand since 2008 taking over as ceo this year. take this as an cinderella story with the unattracted liz claiborne, transforming itself into the very sexy kate spade. which one is better? at first we need to look at their business models. michael kors gets 48% of the sales from retail. via 288 stores in north america and 117 stores overseas in europe and japan. the company gets roughly the same amount of the sales from wholesale. where its products selling in thousan

. >> you sold to liz claiborne. do you wish you listed on the big board instead and come down here? understand. you look at a company that you talk about in here as well as ernest zone. >> earl genes. >> i knew it was an e in there somewhere. i wonder if you wish you maintained some of that independent ens? >> we are ready for our ipo. >> there are a lot of people starting out in a partnership and it doesn't work out. you guys didn't know that, that that was kind of a business school maximum if you will when you started. why do you think you were so successful and so many others have failed? >> i think because we were not friends first. we became besties as we worked together and got to know each other. it was an incredible and is still an incredible partnership. >> i think it's a girl's story. i think as a girl, my dad was a work aholic and the way i saw him as a business man didn't appeal to me at all. having a business with your best friend and creating a culture we loved where we laughed our heads off. it was funny and we worked hard and had each other. when things were crazy, w