Michael Kors Holdings Ltd (KORS.N: QuoteProfileResearchStock Buzz) stood out in its market debut, keeping pace with star technology sector IPOs and showcasing the resilience of the luxury market even in a gloomy economy.

Shares of the luxury brand touched a high of $25.23, a gain of 26 percent from the IPO price it set a day ago, valuing the company at about $4.75 billion.

A day earlier, the company raised the number of shares on offer by 13 percent to 47.2 million and priced its offering above its expected range, raising $944 million.

Michael Kors' offering follows a successful $2.1 billion IPO of Italian fashion house Prada SpA (1913.HK: QuoteProfileResearchStock Buzz) in Hong Kong and a $487 million IPO of Italian luxury shoemaker Salvatore Ferragamo (SFER.MI: QuoteProfileResearchStock Buzz).

Strong fundamentals, a high growth rate and good brand value make the company a good buy, according to industry analysts.

I think the company is doing extremely well, NPD Group's chief retail industry analyst Marshal Cohen said. One of the few brands that is going to see a surge through the holiday season.

The company, which is known for its glitzy designs, has seen its net income grow by 85 percent to $72.5 million in fiscal 2011 and boasts a gross profit margin of 55.5 percent.

The luxury goods industry has rebounded strongly after the sharp downturn of 2009, and analysts see 2011 to be another record year, particularly for watchmakers, luxury hotels, fashion and leather goods groups.

As of October 1, Michael Kors Holdings -- which sells fashion accessories, footwear and apparel -- operated 169 retail stores in North America and 34 stores in Europe and Japan.

The company said it is looking to more than double its store count in North America, and have about 100 stores each in Europe and Japan.

Founder and Chief Creative Officer Michael Kors, who is a judge on the Project Runway TV show, is selling 5.8 million shares and is likely to pocket around $116 million.

The company is not selling any shares in the offering, with the entire proceeds going to the selling shareholders.

Concerns regarding the company's ability to sustain its phenomenal growth rates and insiders selling a large stake are overblown, said Josef Schuster, founder of IPOX Schuster, a fund that specializes in investing in newly public companies.

Michael Kors still has a lot of opportunities to expand in areas like merchandizing and new-store openings, and you will see the company maintain growth rates over time even if the economy is not doing well.

The company competes with retailers such as Coach (COH.N: QuoteProfileResearchStock Buzz), Burberry (BRBY.L: QuoteProfileResearchStock Buzz), Ralph Lauren (RL.N: Quote,ProfileResearchStock Buzz) and Hermes International (HRMS.PA: QuoteProfileResearch,Stock Buzz).

Its biggest shareholder is investment firm Sportswear Holdings Ltd, which will cut its stake to 37.7 percent from 51.9 percent after the offering.

Sportswear Holdings is led by Silas Chou and Lawrence Stroll who have previously had a hand in developing other lifestyle brands including Tommy Hilfiger and Pepe Jeans.

Morgan Stanley, J.P. Morgan and Goldman Sachs were the lead underwriters on the offering.

The company's shares were trading up 21 percent at $24.25 in afternoon trading on the New York Stock Exchange.