In February, fashion designer Michael Kors was added to the world’s billionaires. Since his company went public in late 2011, Kors’ personal fortune has been inching toward the one billion mark. At last, he has arrived.
Kors, you might say, was always destined for stardom. He starred in a Lucky Charms commercial in 1964 during a brief stint as a child actor (his mother, Joan, was a model with plenty of connections).
Kors has had a long and illustrious career in fashion, and reaching billionaire status is simply the latest in his long list of accomplishments. You see Kors is literally a man who has made a name for himself. Born Karl Anderson, Jr., at age five, with the arrival of his mother’s second marriage to a man by the name of “Kors,” young Karl was permitted to rechristen himself. The name he chose: Michael David Kors. In a youthful act of foreshadowing, Kors designed his mother’s wedding dress. She, however, was but the first great lady to wear his threads.
An abbreviated list of Michael Kors’ celebrity clientele includes Catherine-Zeta Jones, Alicia Keys, Heidi Klum, and Jennifer Lopez. First Lady of the United States, Michelle Obama, donned a sleek black Kors number for her first official White House portrait.
Kors’ career stretches back to the late-1970s, when he dropped out of New York City’s Fashion Institute of Technology (FIT) and decided to go it alone, selling his designs in a tiny corner of the boutique where he worked. Since then, Kors has seen ups and down, but most recently, it’s all been clear sailing, landing the designer among the world’s billionaires.
Let’s take a look at the business proposals that made Michael Kors one of the newest billionaires of the fashion industry.