Michael Kors: From Boutique Sales Person To Industry Leader
An American designer Michael kors (born Karl Anderson Jr.) started a fashion company ‘Michael Kors Holding Company’in 1981, which sells clothes, shoes, handbags, watches and other accessories.
Kors was born in Long Island, New York. Kors’s biological parents split when he was quite young, and he got his new name at the age of 5, when his mother married businessman Bill Kors. “My mother said, ‘You’re getting a new last name, so why don’t you pick a new first name?'” Kors recalled.
He was inspired by fashion industry at a very young age. He used to design and sell clothes from his parent’s basement. His interest for fashion can be assumed as his mother had a modeling career.
Early Days of Micheal Kors
At the age of 14 he decided to become a fashion designer and joined Fashion Institute of Technology, New York. But he soon dropped his course and made his first move by launching his women’s collection in 1981.
The success of kors inclined with the first Michael Kors Collection runway show held for the Fall 1984 season. The signature product of the company is handbags which have been popular among teenage girls as well as young women.
Growth of Micheal Kors
Michael Kors Holding Limited is a multinational fashion luxury group which has proved itself as industry leader in terms of style, design and sophistication. The award winning luxury accessories including eyewear, footwear, fragrances alongside the signature handbags are available in most of the popular cities of New York, London, Milan, Paris, Munich, Hongkong, Dubai ,Tokyo ,Shangai, etc.
Kors who once worked as a sales person in a boutique, stands as the king of the multinational empire who possesses innate sense of glamour and has created enduring lifestyle with a global reach.
Kors launched his menswear line in 2002. The MICHAEL, Michael Kors line which included women’s handbags and shoes as well as women’s ready-to-wear apparel was launched in 2004. The mission of Michael kors as a leading American fashion brand is to bring a jet-set, luxury lifestyle to women and men around the globe.
The famous celebrities like Olivia Wilde, Dakota Johnson, Blake Lively, Kate Hudson, Jennifer Lawrence, Taylor Swift, Kate Middleton, Hillary Clinton, Angelina Jolie,Jennifer Lopez , Melania Trump and Michelle Obama have successfully graced the designs by Michal Kors,
MKH ltd became billionaires after the company became public and indulged with NewYork Stock Exchange in 2011.The company currently the total equity of US 200 billion. The company has more than 800 outlet stores and 133 licensed stores all around the world. Being one of the most successful entrepreneur of the world Kors also actively participates in social welfare. He partnered with the United Nations World Food Programme (WFP) to help fight world hunger in 2013.
The company decided to stop using fur on its products since 2017 which proved to be one step better to sustainability. Kors has been nominated for several awards for his contribution to the fashion industry.
The Council of Fashion Designers of America (CFDA) awarded Kors their most prestigious honor, the Lifetime Achievement award in 2010.Kors garnered wide international fame as a judge on the popular American television series “Project Runway,” from 2004 to 2012 during his 10 season stint
Current Scenario of Micheal Kors:
In 2017 Michael kors Holding ltd acquired the luxury shoe making british company Jimmy Choo for $1.2 billion. Similarly, it officially confirmed the purchase of Italian fashion brand Versace for $2.12 billion.
In its acquisition of the brand, Michael Kors Holdings is now officially named ‘Capri Holdings’ which has three major fashion houses under its portfolio: Michael Kors Collection, Versace and Jimmy Choo. Currently Michael Kors is a globally renowned brand, bringing high-end American style to more than 100 countries .
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