Michael Kors

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Michael Kors, 2008

Michael Kors (born August 9, 1959 in Merrick on Long Island , New York ; actually Karl Anderson Jr .; Kors is the last name of his stepfather) is an American fashion designer .

The Kors 1981 Michael Kors LLC , founded fashion house went late 2011 with headquarters in the British Virgin Islands as Michael Kors Holdings Limited on the New York Stock Exchange and was in 2019 Capri Holdings ( ticker symbol renamed CPRI). Under the brand name Michael Kors , the company offers prêt-à-porter fashion collections for women and men as well as accessories - mainly handbags for women - and shoes , jewelry , watches and perfume in the upper price segment through its own network of boutiques and upscale retailers worldwide . The market value of the company was put in the spring of 2012 at around eight billion dollars. The shoe manufacturer Jimmy Choo has also been part of the group since 2017 and the fashion house Versace since 2018 .

Career and company history

Michael Kors Holdings Limited

logo
legal form Limited Company (British Virgin Islands)
ISIN VGG607541015
founding 1981 (including predecessor company)
Seat British Virgin Islands (holding); London (corporate headquarters)
management John Idol, CEO ; Michael Kors, Chief Creative Officer
Number of employees 9,184 (2014)
sales $ 3.3 billion (2014)
Branch Textiles , leather goods , perfumes
Website www.michaelkors.com

Michael Kors appeared in commercials on American television as a child . His name changed from Karl Anderson to Michael David Kors at the age of five, after his mother's second husband, Joan Kors (* 1940), the entrepreneur Bill Kors, adopted him. The two first names are freely chosen.

In 1981 - before studying design at the Fashion Institute of Technology in New York City - Kors founded his own label Michael Kors LLC . Parallel to his studies, which he later dropped out, he worked in a New York luxury boutique called Lothar’s as a sales manager and was already selling his first collections there. He showed his first fashion show in 1984. He made a name for himself with minimalist American sportswear in classic cuts and made of fine materials. In the 1980s he also worked as a designer for the Scottish cashmere brand Lyle & Scott . The first attempt to establish a cheaper second line called Kors with an Italian licensee failed, however: Due to declining demand for conservative sportswear and low order numbers , he had to file for bankruptcy in 1993 . In 1994 he had restructured his company and began a design and license collaboration for the second line Kors with the Japanese fashion group Onward Kashiyama, the later owner of the fashion brand Jil Sander . In 1999 the French LVMH group bought 33% from Michael Kors. Back in 1997, LVMH Kors had appointed Céline as chief designer of the Paris-based fashion label belonging to the group ; a position that he would hold until 2003.

After the first drafts for his own label, mainly sportswear, he also added perfume (from 2000), accessories (2001) and, in the autumn / winter 2002/2003 season, his first complete men's fashion collection, after it had been in 1992 Michael Kors menswear. Today his collections under the name Michael Kors (main collection and catwalk line for women and men), KORS Michael Kors (women's bridge collection with shoes, coats and accessories since 1996, relaunch 2004; originally established as Kors by Michael Kors in 1989 and discontinued in 1992) and MICHAEL Michael Kors (sportswear second line since 2004, men's line discontinued in 2006) the complete range of women's and men's fashion as well as fragrances and accessories. In 2003, Sportswear Holdings Limited from Hong Kong , which u. a. Had bought Tommy Hilfiger in 1989 and is owned by Silas Chou and Lawrence Stroll, for an estimated $ 100 million, 85% of Michael Kors, while Kors himself held the remaining 15%. On December 20, 2011, the company went public on the NYSE and reissued shares in March 2012, reducing Sportswear Holdings Limited's stake in Michael Kors Holdings Limited to 26.1%. The shares issued were all sold by shareholders Michael Kors, John Idol, Lance LePere (partner of Michael Kors), Silas Chou, and Lawrence Stroll, and the proceeds from the sale went solely to these shareholders and not to the company. After the share sales in March 2012, 35.5% of the share capital was still in the hands of these shareholders. The company's share price had nearly tripled from its IPO in December 2011 ($ 20) to September 2012 ($ 56).

Annual sales for the fiscal year 2011/2012 amounted to 1.3 billion US dollars . Annual revenue for fiscal 2013 was $ 2.18 billion and fiscal year 2014 was $ 3.3 billion.

As of April 2011, Michael Kors Holdings was operating 166 stores worldwide, including 58 of its own boutiques in the USA - five of which were called “Collection Stores”, which only offer the exclusive main collection - and over forty outlets , including in New York, Las Vegas , Beverly Hills and Hawaii . It also has its own stores in Canada , London , Paris, Milan , Madrid , Moscow , Istanbul , Dubai , Manama , Seoul , Singapore , Malaysia , China , Japan and the Philippines as well as numerous outlets all over the world. The Michael Kors Boutique in Munich opened at the beginning of May 2010. At the end of 2011, a Michael Kors boutique opened its doors in Düsseldorf on the Kö . The first Michael Kors shop-in-shop in Germany for men only opened on January 19, 2012 on approx. 30 m² in the Galeries Lafayette Berlin . In Germany, the company also has outlet stores in the FOCs Ingolstadt Village and Wertheim Village as well as in Metzingen . In 2012, a Michael Kors store also opened in the McArthurGlen designer outlet on BAB 7 near Neumünster. In Austria, a Michael Kors store opened in December 2013 in the Shopping City Süd in Vösendorf . The brand is also represented in the Parndorf Outlet Center . In Switzerland, the brand has had its own boutiques on Zurich's Bahnhofstrasse since 2015 . As of March 2012, following numerous openings in 2011, the company was operating 237 stores worldwide under the Michael Kors name, including 188 in the USA (including outlets).

The official website and the online shop are operated by the American department store Neiman Marcus . Furthermore, Kors is the outfitter of various Hollywood films (for example The Thomas Crown Affair ) and many celebrities, such as Jennifer Lopez and Catherine Zeta-Jones . Kors won the Award of the Council of Fashion Designers of America for ladies fashion designer (1999) and men's fashion designer (2003) of the year and was jury -member in TV format Project Runway .

In August 2011, Kors married his long-time partner and collaborator since 1990, Lance LePere.

In 2017, Michael Kors Holdings acquired luxury shoe brand Jimmy Choo for $ 1.2 billion. In September 2018, the holding company bought the fashion label Versace for 2.1 billion US dollars (1.83 billion euros). The company also announced that it would be renamed Capri Holdings on January 2, 2019. In spring 2019 it was announced that Kors would be giving up his previous management position on the Board of Directors of Capri, instead being appointed honorary chairman of the board and remaining Chief Creative Officer of the Michael Kors brand.

Individual evidence

  1. ↑ The Americanization of the Rue St.-Honoré , nytimes.com, March 9, 2011
  2. ↑ Shares of Michael Kors as Hot as Its Wares , nytimes.com, February 14, 2012
  3. ↑ Annual Report 2015/16 , accessed on June 23, 2016.
  4. ↑ With His Hot New Line, Michael Kors Grabs the Fashion Ladder's Top Rung , people.com, April 8, 1991
  5. ↑ The New York Times: Kors seeks reorganization (July 13, 1993)
  6. ↑ Time Magazine: Making of an Icon (September 6, 2004)
  7. ↑ Hong Kong Investors To Take Massive Profits From Michael Kors IPO , forbes.com, December 7, 2011
  8. ↑ Michael Kors Holdings Limited Annual Report 2011/2012 (PDF; 84.1 MB), corporate-ir.net, June 2012
  9. ↑ Michael Kors Falls On Secondary Share Offering , investors.com, September 10, 2012
  10. ↑ Michael Kors fiscal 4Q profit triples, shares soar ; boston.com, June 12, 2012
  11. ↑ [1]
  12. ↑ michaelkors.com (engl.): Michael Kors store locations (last accessed: June 14, 2010)
  13. ↑ Michael Kors: Store Opening in the Galeries Lafayette Berlin , jnc-net.de, January 24, 2012
  14. ↑ Amica: The designer wants to get married ( Memento from December 10, 2015 in the Internet Archive )
  15. ↑ http://investors.michaelkors.com/news-releases/news-releases-details/2017/Michael-Kors-Holdings-Limited-Completes-Acquisition-of-Jimmy-Choo-PLC/default.aspx
  16. ^ "Takeover by Michael Kors" , Spiegel Online , September 25, 2018
  17. ↑ http://investors.michaelkors.com/news-releases/news-releases-details/2018/Michael-Kors-Holdings-Limited-to-Be-Renamed-Capri-Holdings-Limited/default.aspx

Web links

personal data
SURNAME Kors, Michael
ALTERNATIVE NAMES Anderson, Karl
BRIEF DESCRIPTION American fashion designer
DATE OF BIRTH August 9, 1959
PLACE OF BIRTH New York , USA