Karl Anderson, Jr. was born on 9th August 1959, in Long Island, New York, USA of Swedish and Jewish descent. Now known under the name of Michael Kors, this famous fashion designer is the CEO and Honorary Chairman of the company titled under his name, Michael Kors Holdings Limited. Michael Kors has been awarded as the womenswear and menswear designer of the year by CFDA respectively in 1999 and 2003.
Michael Kors has been active in the fashion industry for many years, though he has experienced ups and downs during his career. However, it has recently been reported by sources that his net worth is as much as $1 billion.
Michael Kors Net Worth $1 Billion
When born the boy was named after his father, Karl Anderson, Sr. After his parents divorced and his mother married her second husband, Bill Kors, she let her son choose not only his surname but also his first name as he wished. As a result, the boy decided that he wants to be named Michael David Kors.
The success story of the popular designer begins in his very early childhood: he has been interested in fashion ever since he was five years old, when he managed to design the wedding dress for his mother. The Iron Butterfly was named the store located in his parents’ basement, where Kors began to sell the clothes he designed. His store was popular yet the young designer decided that it would be helpful to study design. In 1977, Michael entered the Fashion Institute of Technology. Unfortunately, he abandoned his studies and began working at the boutique on 57th Street.
Several years later, Kors introduced a splendid ladieswear line in such popular stores as Saks Fifth Avenue, Neiman Marcus, Lord & Taylor, Bergdorf Goodman and Bloomingdale’s. Unfortunately, he went bankrupt in 1993, but most importantly the designer didn’t give up, and after a few years he launched a cheaper line in the French house named Celine. From this stage his career has been going up, adding millions to his net worth. In 2002, Michael introduced his menswear line, and soon he left Celine in order to focus on his own brand. As well as launching the successful runway collection, he has launched two additional lines called the KORS Michael Kors and MICHAEL Michael Kors which included respectively jeans and footwear, shoes and handbags.
As of today, he owns full collection boutiques in Chicago, Manhasset, Palm Beach, Beverly Hills and New York. Lots of celebrities love his clothes, and Kors’ famous clients include Michelle Obama, Catherine Zeta-Jones, Heidi Klum, Elissa, Rachel McAdams, Jennifer Lopez, Jennifer Garner, Gwyneth Paltrow, Alicia Keys and many others.
Michael Kors is highly respected person. He has been listed into the 100 most influential people in the world by The Time Magazine. The Council of Fashion Designers of America awarded Michael with Geoffrey Beene Lifetime Achievement Award in 2010. More, Kors won Couture Council Award for Artistry of Fashion in 2013.
In 2011, he married his wife/partner/boyfriend Lance LePere.
