Just ran into this item from August. Does not mention Asia other than Japan. Perhaps that is all held by the majority stock holder which would be under the wholesale category.8/13/12Barclays initiates coverage on Michael Kors (NYSE: KORS) with an Overweight. PT $55.00.Analyst, Robert S. Drbul, said, "The company has demonstrated industry-leading momentum, with revenue growth of 62.1% in FY12, including comps up 39.2%. We believe KORS can generate at least 20%-25% revenue growth and 25%-30% EPS growth over the next 3 - 5 years."Drbul sees retail stores expanding from the current 237 to 600 (400 in N. America, 100 in Europe and 100 in Japan). Currently, KORS total international revenue is only 9%, whereas Coach (NYSE: COH) is 30% and Polo (NYSE: RL) is 36%. Point being, there's lots of opportunity for growth with wholesalers and its own retail stores.http://www.streetinsider.com/New+Coverage/UPDATE%3A+Barclays...JT
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