February 4th 2014 is the day Michael Kors officially became a billionaire. The stock market rise of no less than 20% seen by the company bearing his name made possible the writing in stone of another fashion billionaire, among peers such as Giorgio Armani, Miuccia Prada, Ralph Lauren, Domenico Dolce and Stefano Gabbana, or the owners of Hermès and Chanel.
But who is it that lies behind the name and the recent pinnacle to go down in fashion business history? A fashion mogul that manages a perfectly tuned balancing act between high street fashion and a commercial success dominated by watches, shoes and bags*, the ex-juror – for a whopping 10 seasons – of Project Runway, the mastermind of the #WatchHungerStop movement – for each limited edition Kors watch 100 meals get delivered via United Nations World Food Programme – and the man putting up the Christmas tree with Gwyneth Paltrow!
Still, his smile isn’t just that of an exuberant creative personality, but also of the one drawing up fashion that saw MK’s European holiday sales hike 73% and its revenue a mind-blowing 144%, of the one that has already turned into billionaires Michael Kors’ (the company) major shareholders, Silas Chou and Lawrence Stroll, and who transformed his just 2% of the company into the 2% that put Michael Kors (the man) on the Forbes list. Congratulations Mr. Kors!
*Selma Saffiano leather Michael Michael Kors top handle bag, EUR 360 at Luisa Via Roma
Photos: vincent-ko.com, designscene.net, blog.omghaute.com, Luisa Via Roma