Michael Kors Net Worth
|Date of Birth||August 9, 1959|
|Age||62 years old|
|Height||5 ft 7 inch (1.65m)|
|Profession||Honorary Chairman of Michael Kors|
|Net Worth||$600 million|
Michael Kors Introduction
Michael David Kors is a fashion designer from the US. Michael Kors is the executive chairman as well as a chief creative officer (CEO) of the company, which provides men’s but also women’s ready-to-wear, accessories, watches, jewelry, footwear, as well as fragrance.
Michael Kors Early Life & Career
Michael Kors started his career at Lothar’s shop in Manhattan, near the luxury goods store ‘Bergdorf Goodman.’ Dawn Mello, a former executive at ‘Bergdorf,’ saw him.
Kors launched his ladies’ line, ‘Michael Kors,’ at Bergdorf Goodman in 1981. Kors made his debut eponymous catwalk performance in 1984.
‘Bergdorf Goodman’ launched ‘KORS’ as a licensee in 1990. The brand was placed on hold in 1993 because of the closure of one of its approving partners. Kors launched another low-cost clothing brand in 1997.
The French design business, ‘Celine,’ chose Kors as the designer for women’s ready-to-wear clothing in 1997. He performed an excellent job of resurrecting the brand and creating ready-to-wear clothing that was well received by customers.
Kors departed ‘Celine’ in 2003 to concentrate on his own namesake brand. He also promoted his male fashion range. The ‘Michael Kors’ design image was launched in 2004.
The brand is known for its women’s bags, shoes, and apparel range. The brand achieved overall success, and it now has 843 outlets globally. His boutiques may be found in Tokyo, Paris, Milan, Cannes, as well as London.
In 2004, Michael Kors was appointed as one of the judges for the television show ‘Project Runway.’ It was an unscripted television drama about fashion planning.
The participants were supposed to create gowns using the materials as well as the configuration provided by the judges.
When Kors was appointed as a judge on ‘Project Runway,’ he was quite skeptical of its success.
He had the impression that appearing on television was not a good idea. In any event, despite his predictions, the show turned out to be a huge success.
Kors served as among the show’s primary judges. It aired on the ‘Bravo platform for five seasons before moving to the ‘Lifetime’ network.
Kors quickly rose to prominence during his tenure as a judge, because of his quick thinking and outspoken words. He pulled out of the show in 2012.
In 2016, Kors recognized the 35th anniversary of his company. Several celebrities have worn Kors-designed gowns. For her first official photo, ‘Michelle Obama’ donned a ‘Michael Kors dress.
‘Kate Hudson plus ‘Olivia Wilde’ donned Kors’ fashion ensemble at the ‘Golden Globe Awards in 2016. Kors’ clothing has also found tremendous success.
Kors was named to the ‘Time 100,’ an annual list of the 100 most influential people recognized by ‘Time’ newspaper in 2013. He was awarded a ‘Global Ambassador Against Hunger’ by the United Nations World Food Program in 2015.
Michael Kors Personal Life
On August 16, 2011, Michael wedded his long-term lover Lance Le Pere in The Hamptons. When La Pere worked as an apprentice for Kors’ firm in 1990, the pair met.
The pair lives in Greenwich Village, New York, in a luxury penthouse apartment.
Michael Kors Age, Height, & Weight
Being born in 1959, on the 9th, of August “Michael Kors” age is 62 years old as of today date and his height is 5 feet 5 inches tall, (1.65 m), and his weight is 70 kilograms and (154 lbs) in pounds as of 2022.
Michael Kors Fashion Career
Kors left FIT to work at Lothar’s, a boutique store in Midtown Manhattan from across the road at Bergdorf Goodman. He began as a salesman but swiftly advanced becoming the store’s developer as well as a visual display director. Dawn Mello, Bergdorf’s fashion director, spotted Kors and encouraged him to exhibit his line to Bergdorf Goodman’s purchasers.
In 1981, he debuted his Michael Kors women’s apparel collection at Goodman, Bloomingdale’s, Neiman Marcus, Lord & Taylor, as well as Saks Fifth Avenue. As a licensee, the business introduced the brand KORS in 1990.
He declared Chapter 11 bankruptcy in 1993 but was able to restore; nonetheless, he had to shut his label’s licensing partner, causing him to halt production on his KORS brand.
In 1997, he debuted a lower-priced ready-to-wear line for the French retailer Celine. After leaving the Celine brand a few years later, Kors started a menswear line in 2002.
He developed the MICHAEL Michael Kors brand in 2004, collaborating with the original Michael Kors Collection brand. The collection began with women’s ready-to-wear clothing and later grew to include purses and shoes.
Kors has approximately 770 Lifestyle stores globally plus Collection boutiques in New York, Beverly Hills, Palm Beach, Chicago, as well as Southampton by the end of 2016.
Michael Kors Holdings Limited formally company was renamed Capri Holdings Limited in early 2019. Capri Holdings Limited’s three founder-led brands are Michael Kors, Jimmy Choo, plus Versace.
In addition to creating garments, Kors served as a judge on “Project Runway” for five seasons. He announced his resignation in 2012 and was replaced by designer Zac Posen. Kors returns to Project Runway as a guest host for the season 15 finale in 2016.
Michael Kors Net Worth
Michael Kors has an approximate net worth is estimated to be around $600 million as of 2022. In 2003, Michael leased a majority stake in his company to financiers Silas Chou’ and ‘Lawrence Stroll’ for roughly $100 million. He now owns approximately 5% of his company’s stock, which has a market valuation of $10 billion.
Michael was enormously wealthy in 2014 as a result of the soaring stock price of his publicly listed ‘KORS.’ Kors was estimated to have more than $1 billion in personal wealth the same year.
Around 2014, the corporation generated approximately $3 billion in annual revenue and $700 million in profit. Nevertheless, the stock declined by more than half over the next few years, removing Michael from the billionaire’s list.
Michael now serves as honorary chairman as well as Chief Creative Officer for ‘Michael Kors Holdings.’ In 2017, the corporation paid over $1 billion for ‘Jimmy Choo.’
Versace was bought by the organization in September 2018 for $2.1 billion. Michael Kors Holdings will be rebranded as Capri Holdings Limited as part of the Versace acquisition (CPRI).
According to a public announcement on the Versace acquisition, the brand is sure that the parent industry’s overall income would increase by close to $8 billion in the long run. He came from a prosperous family and has been a successful journey from his childhood.
Michael Kors has an approximate net worth is estimated to be around $600 million as of 2022.
He relocated to New York City to attend the Fashion Institute of Technology but left out after only the second semester. Kors launched his women’s design line in 1981 and became a judge on ‘Project Runway’ in 2004.
Michelle Obama was introduced in a Michael Kors gown for her first formal appearance.