It was worth $100 million then. (adsbygoogle=window.adsbygoogle||[]).push({}); You have entered an incorrect email address! Upon closing the Versace deal, Michael Kors Holdings will be renamed Capri Holdings. 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. In 1977, he registered in the Fashion Institute of Technology in New York City. © 2020 Forbes Media LLC. The company launched the label KORS as a licensee in 1990. To celebrate the new campaign for Wonderlust, a fragrance by Michael Kors, the designer and Gigi Hadid talk scent memories and finding their light. This woman was first married to Karl Anderson Senior, who was a student in a particular college. When Michael reached the age of twelve and twenty years, Michael was able to design clothes and to sell them. While in junior high, Kors took acting classes but stopped when he decided to focus on becoming a fashion designer. He announced he would not be returning in 2012 and was replaced by designer Zac Posen. Fashion Career: After dropping out of FIT, Kors took a job at Lothar's, a boutique store across the street from Bergdorf Goodman in Midtown Manhattan. His company is named after him as Michael Kors Holding Limited, which deals with men’s and women’s wear ready-made wears. Dawn Mello, a fashion director, spotted Michael and requested him to display his designs to Bergdorf Goodman. All Rights Reserved. (Photo by JP Yim/Getty Images for Michael Kors), Notable Celebrity Wear: Kors has dressed thousands of super-famous women. Unfortunately, over the next few years the stock dropped over 50%, and therefore dropped Michael from the billionaire's club. On January 21, 2013, Alicia Keys wore a Kors gown during her performance at Barack Obama's inaugural ball. Feathers and dust have settled some and we are now a few weeks in since Michael Kors Holdings announced plans to acquire Versace. Factories that manufacture clothes for H&M, Zara, Mango, Michael Kors and other major brands are ousting their unionized workers, according to a recent report. In addition to that, he serves as the chairman as well as CEO of Michael Kors Holdings Limited. Well, if you’re ready, let’s start. Kate Hudson and Olivia Wilde both wore Kors to the 2016 Golden Globes and Emily Blunt (nominated for her role in "Into the Woods") wore a custom made white Kor gown to the Academy Awards in 2015. Submit a correction suggestion and help us fix it! Again in the same year, Kors was honored with the 2013 couture Award for Artistry of Fashion by the Couture Council of The Museum held at the Fashion Institute of Technology. As the creative director for his brand for Celine, Kors designed many outfits for actresses to wear on-screen, including styles for Gwenyth Paltrow in "Possession" and Rene Russo in "The Thomas Crown Affair.". Following the September 2018 announcement of luxury group Michal Kors Holdings acquiring the Versace fashion house for a sum exceeding $2.1 billion, the American conglomerate announces on Monday it has completed the takeover. As much as Tapestry's Coach, Ralph Lauren, Capri Holdings' Michael Kors and the rest aspire to being called “luxury brands,” they will never attain that status as long as they rely so heavily on factory outlets that cheapen the brand image and undermine what luxury stands for. If you do not know, We have prepared this article about details of Michael Kors’s short biography-wiki, career, professional life, personal life, today’s net worth, age, height, weight, and more facts. The company bought Jimmy Choo in 2017 for nearly $1 billion. Ad Campaigns: Kors aims for his advertising to reflect a "jet-set lifestyle" that his fans recognize. And now, Michael Kors' $2.1 billion acquisition of the iconic Italian luxury house plans to tap into the mutual admiration that lingers to this day.