Michael Kors net worth

Michael Kors net worth

Net Worth: $1 Billion

About Michael Kors

Michael Kors net worth

Michael Kors is one of the most successful designers of New York. He is also known as one of the richest ones, since the current estimate of Michael Kors net worth has been reported to reach 1 billion dollars. Michael Kors is mostly credited for designing classical American sportswear line for women. It also brought the biggest sums of money to the overall estimate of Michael Kors net worth. Michael Kors designing company is called Michael Kors Holding Limited, and there, he is working as an Honorary Chairman as well as a Chief Creator Officer.

Michael Kors was born in 1959, in Long Island, New York. His mother was also involved into modeling career. Since he was at a young age, Michael Kors has been interested into fashion. His mother later said that the reason of it might be the fact that Michael Kors was all the time exposed to this industry because of her being a model.

When he was a teenager, Michael Kors was already designing clothes as well as selling them. His ‘shop’ was in the basement of his parents’ house and he named it “Iron Butterfly”. In 1977, Michael Kors was sure what he wanted to do for living and he was accepted to the Fashion Institute of Technology in New York.

However, nine months passed and Michael Kors dropped from it. Soon, he got hired by a boutique in New York, where he also got a place to sell his own designed clothes. Michael Kors was eventually noticed by Dawn Mello, who was the fashion director at Bergdorf, the store in which Michael Kors worked. In 1981, Michael Kors launched his first ever women’s sports clothing line, which was sold in Bloomingdales. Later, it also started to be sold at Saks Fifth Avenue, Bergdorf Goodman, Neiman Marcus and Lord & Taylor. The sales added a lot of revenues to Michael Kors net worth and in fact, it was this time when it started to be accumulated.

In 1993, Michael Kors suffered bankruptcy and was forced to close his designing for quite a time. In 1997, he started his career once again and this time it was much more successful and more affordable, since he decided to drop the prices quite a bit. Also, his clothing was started to be sold at the French house called “Celine”. Since then, Michael Kors has experienced nothing but success in his career as a designer, which also added millions of dollars to Michael Kors net worth.

Now you have an idea why Michael Kors net worth is this huge

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