01st October 2018
Michael Kors is the topic of talk with his recent $ 2.1 billion purchase in the Italian luxury industry.
Just like Rome wasn't built in a day, Michael Kors didn’t achieve this position in one go. The man who currently owns three of the most celebrated brands is the luxury world has a fascinating history of success. It was on August 9th, 1959 that a boy named Karl Anderson Junior was born in New York to change the future of fashion. His mother was a former model, remarried when Karl was five and with a new father, Karl became Michael Kors. Today, Kors has a globally renowned American luxury brand - Michael Kors in 100+ countries along with marking his power and position in the British luxury market by buying Jimmy Choo and Italian fashion industry by being the new owner of a powerful brand like Versace. Have a look at Michael Kors journey so far with LA POLO.
It all started in 1977 when Michael enrolled himself at the Fashion Institute of Technology, New York but left it nine months later as he was offered an opportunity to sell his personal designs at Lothars, the store where we worked during his college days.
It was the former fashion designer at Bergdorf Goodman who fell in love with Michael’s work and gave him the chance to showcase his womenswear designs at Goodman store. Within three years, Kors’ amazing collection was stocked by Bloomingdale’s, Neiman Marcus and Saks Fifth Avenue.
Pleased by his magical work, the company launched its range on the name of Kors called - Michael Kors range.
There was no turning back for him now! In 1997, he made into LVMH- owned fashion house Céline as the first female ready-to-wear designer.
Finally, it was in 2004 when the world was introduced to Kors independent brand. The line was released in all over the United States and soon expanded its range into accessories, ready-to-wear, swimwear, jeans and even footwear.
Kors became the official partner of the Formula One championship in partnership with McLaren-Honda.
Kors independent brand, Michael Kors Holdings took his first step in the British luxury industry by buying shoemaker Jimmy Choo PLC in $1.2 billion.
This was not all! This year, Michael Kors took another big boot step in the high-end luxury world by taking Versace in $2.1 billion under his flagship.
When Kors started as just another employee in Goodman, no one knew he will rule the fashion world soon. With brands like Michael Kors Holdings, Jimmy Choo and Versace, Kors is guiding a crucial part of the fashion industry and we wonder if 2019 will bring another lush brand under the ownership of Mr Kors.