Michael Kors Net Worth
Michael Kors’ net worth amounts to $1 Billion
Michael Kors Wiki Biography
Michael Kors, born Karl Anderson, Jr. on 9th August 1959, in Long Island, New York, USA, is a renowned fashion designer of Swedish and Jewish descent. He currently serves as the CEO and Honorary Chairman of his eponymous company, Michael Kors Holdings Limited. Kors has been honored with the womenswear and menswear designer of the year awards by CFDA in 1999 and 2003, respectively.
Despite facing various challenges in his career, Michael Kors’ net worth is currently estimated at an impressive $1 billion.
Michael Kors Net Worth $1 Billion
Originally named after his father, Karl Anderson, Sr., Kors adopted the name Michael David Kors after his mother’s remarriage to Bill Kors, giving him the freedom to choose his own first and last name.
Kors’ fascination with fashion began at the young age of five when he designed a wedding dress for his mother. He initiated his sales ventures by running “The Iron Butterfly” store from his parents’ basement, paving the way for his future in the fashion industry. Later, he pursued design studies at the Fashion Institute of Technology but opted to join a boutique on 57th Street. Despite facing bankruptcy in 1993, Kors persevered, launching a successful ladieswear line in renowned stores such as Saks Fifth Avenue, Neiman Marcus, and Bloomingdale’s. His career further flourished when he entered into a partnership with the French house Celine, eventually branching out to introduce a menswear line, and his own brand, KORS Michael Kors, as well as MICHAEL Michael Kors, featuring a range of products including jeans, footwear, shoes, and handbags.
Today, Kors owns flagship boutiques in prominent locations such as Chicago, Manhasset, Palm Beach, Beverly Hills, and New York. His clientele includes numerous celebrities such as Michelle Obama, Catherine Zeta-Jones, and Jennifer Lopez, reflecting the widespread appeal of his clothing lines. Meanwhile, his widespread influence in the industry is evident from his inclusion in The Time Magazine’s list of 100 most influential people, and his reception of prestigious accolades such as the Geoffrey Beene Lifetime Achievement Award from the Council of Fashion Designers of America in 2010, and the Couture Council Award for Artistry of Fashion in 2013. In 2011, he tied the knot with his long-term partner, Lance LePere.
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