Michael Kors’s profile picture

Michael Kors

Michael Kors’s profile picture
Net worth 2018: $1 Billion
Industry: Retail
Country: United States
BirthDay: 9 August 1959
Sigh: Virgo
BIOGRAPHY

Michael Kors was bornon 9 August 1959 in United States. The icon of American womenswear finally hit the $1 billion mark in February, having flirted with billionaire status ever since his eponymous company went public in December 2011. Long Island native Kors dropped out of the Fashion Institute of Technology in his first year, but was soon discovered by a Bergdorf Goodman buyer; he launched his line in 1981 at New York's top department stores. He overcame a bankruptcy in 1993, then proved himself once more by turning around the fortunes of French fashion house Celine as head womenswear designer. Kors became a household name outside fashion circles in the U.S. in 2004, when he took the stage as a judge on reality TV hit Project Runway. He earned a legion of new fans with his amusingly barbed comments when confronted with a less-than-chic design created by one of the show's young hopefuls. Kors joins Silas Chou and Lawrence Stroll on the Billionaires' list; the investing duo bought a controlling stake in Michael Kors LLC in 2003. It was worth $100 million then. Today, its market cap hovers around $20 billion. How's that for a fashionable return on investment?

NET WORTH STATISTIC
2014

$1 Billion

2018

$1 Billion

TIMELINE
2016

Kate Hudson and Olivia Wilde both wore gowns by the designer to the 2016 Golden Globes, and Emily Blunt, nominated for her role in Into The Woods, wore a white custom gown by the designer in 2015

2015

Michelle Obama wore a black sleeveless dress from the designer for her first term official portrait as First Lady and later sported Kors again at the 2015 State of the Union address

2014

In January 2014, Forbes reported that Kors reached a personal fortune in excess of $1 billion

2013

In July 2013, he became the second luxury brand, after Tiffany & Co, to sue Costco for falsely claiming in advertisements that they sold his product

2012

On December 18, 2012, it was announced that Kors would be leaving Project Runway, to be replaced by fellow designer Zac Posen

2011

Kors married his partner, Lance Le Pere, on August 16, 2011, in Southampton, New York

2009

In January 2009, the estate of the artist-designer Tony Duquette sued Kors for trademark infringement after Kors allegedly used Duquette's name and images in promoting Kors' 2009 resortwear collection

2004

The MICHAEL Michael Kors line was launched in 2004, joining the original Michael Kors Collection label

2003

Kors left Celine in October 2003 to concentrate on his own brand

1999

1999 CFDA award for womenswear designer of the yearMichael David Kors (born Karl Anderson Jr

1997

He managed to get back on his feet by 1997 and launched a lower priced line and at the same time was named the first women’s ready-to-wear designer for French house Celine

1993

A Chapter 11 filing in 1993, caused by the closure of the licensing partner for KORS Michael Kors, forced him to put the KORS line on hold

1990

In 1990, the company launched KORS Michael Kors as a licensee

1981

In 1981, Kors launched his Michael Kors women's label at Bergdorf Goodman

1977

In 1977, he enrolled at the Fashion Institute of Technology in New York City

1959

; August 9, 1959) is an American sportswear fashion designer

1957

However, he dropped out after only nine months and took a job at a boutique called Lothar's across from Bergdorf Goodman on 57th Street in Midtown Manhattan, where he started as a salesperson and went on to become both the designer and visual display head for the store

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