Hikes in stock price just make Michael Kors, the fashion designer, rich. Michael Kors now became a billionaire. When shares of Michael Kors Holdings fly up approx 18 percent in stock market and stock market put Michael on the top on Tuesday.
54 year old Michael Kors holds only 2 percent shares in his company which now valued upto $390 million according to Bloomberg data and his assets owned has value upto $650 million. His company went public in December 2011 and now his shares in his founded company is only 2 percent. Now, he is one of the billionaire of the fashion world. He celebrates its vast success in Asia and North America. His brand is famous for its leather accessories and watches.
He joined his name with another fashion billionaire named Sara Blakely, Tory Burch. Michael Kors, passed out from Fashion institute of Technology and started his business in 1981. He also worked as a designer and creative director of Celine from 1998 to 2004. You can take a look on his latest collection which will be presented in Newyork Fashion Week, February 12.