Michael Kors

Michael Kors is an American fashion designer born on August 9, 1959, in Long Island, New York. He established his namesake company in 1981, which has since become a prominent luxury fashion brand. The brand offers a wide range of products, including men's and women's ready-to-wear clothing, accessories, footwear, watches, jewellery, and fragrances.

In 1997, Kors became the first women's ready-to-wear designer for the French fashion house Celine, a position he held until 2003. After leaving Celine, he focused on expanding his own brand. The company launched its menswear line in 2002 and introduced the MICHAEL Michael Kors line in 2004, which included women's handbags, shoes, and ready-to-wear apparel.

Michael Kors Holdings Limited went public on the New York Stock Exchange in 2011. In January 2019, the company was renamed Capri Holdings Limited after acquiring luxury brands Jimmy Choo in 2017 and Versace in 2018. Capri Holdings operates as a multinational fashion holding company, with executive offices in London and operational offices in New York.

Despite its success, the Michael Kors brand has faced challenges. Aggressive discounting strategies led to a decline in brand value and market position. Sales peaked at $4.7 billion in 2016 but dropped to $3.5 billion in recent years. In August 2023, Tapestry Inc., the parent company of Coach, offered to acquire Capri Holdings for $8.5 billion. However, the merger was blocked by a federal judge in October 2024 due to antitrust concerns, leading to the cancellation of the deal.

In response to these challenges, John Idol resumed his role as CEO of Michael Kors in late 2024, aiming to revitalise the brand. Philippa Newman was promoted to Chief Product Officer to enhance product development in collaboration with Michael Kors, the Chief Creative Officer. These leadership changes are part of Capri Holdings' efforts to stabilise its brands and improve business performance.

American fashion designer Michael Kors is acclaimed for his sports-luxe design aesthetic and his philanthropy.

Michael Kors' growth in Fashion is an inspiring entrepreneurial story. His  interest in fashion began at a young age when he opened his own boutique "Iron Butterfly". In 1977 he enrolled himself at the Fashion Institute of Technology in New York but left in nine months when he was offered the opportunity to sell his own designs at New York-based shop Lothars. Shortly, Dawn Mello- fashion director at Bergdorf's, began taking a keen interest in Kors and showed his collection to to the buyers at Bergdorf Goodman. 

There was no looking back. Within three years Kors' collections were stocked in Saks Fifth Avenue, Neiman Marcus and Bloomingdales. Celebrities who dressed in Kors' designs include Nicole Kidman, Reese Witherspoon, Blake Lively, Kate Hudson, Taylor Swift, Kate Middleton, Hillary Clinton, Angelina Jolie, Jennifer Lopez, Vice President Kamala Harris, Catherine Zeta-Jones and Michelle Obama.

Sadly though in 1990 the company filed for bankruptcy and Michael Kors moved on and became Creative Director of "Celine" where he transformed the LVMH-owned fashion house with successful ready-to-wear and accessories lines. LVMH acquired 33 per cent stake in Michael Kors. That year he was named "CDFA Womenswear Designer of the Year". In 2002 Kors launched his menswear line and was honoured with the title: "CFDA Menswear Designer of the Year". He left Celine the following year to concentrate on his eponymous brand through holding company Michael Kors Holdings Limited- relaunched with a reported $100m investment from Sportswear Holdings Limited which bought out all previous investors including LVMH.

Michael Kors women's ready-to-wear and accessories was launched in 2004. In one of his biggest achievements, the designer was honoured with CFDA Geoffrey Beene Lifetime Achievement Award — its youngest recipient — and was named in Time magazine's annual list of the hundred most influential people- in 2013. Pretty soon Michael Kors stores were operating in New York, Los Angeles, Chicago, London, Milan, Paris, Munich, Dubai, Seoul, Tokyo, Hong Kong, Shanghai, and Rio de Janeiro. Michael Kors also operates digital flagships across North America, Europe and Asia, offering a seamless omnichannel experience. 

In July 2017 Michael Kors Holdings Limited bought Jimmy Choo Ltd for reported £897 million and on January 2, 2019 changed its name to Capri Holdings Limited. The multinational fashion holding company acquired Versace for reported 1.83 billion euros. John D. Idol, Chairman and CEO, stated in a company release: "With the acquisition of Versace, we have now created one of the leading global fashion luxury groups in the world…"

However- per WWD- "Michael Kors slipped off the board of Capri Holdings — the company that started with his namesake brand and has now expanded with the acquisitions of Jimmy Choo and Versace. The move was revealed in a filing with the Securities and Exchange Commission… 'Consistent with this strategy…Mr. Michael Kors decided that effective March 29 2019 he will no longer serve as a director or executive officer of Capri Holdings' the filing continued." He however continues to focus on his own luxury label. 

In the most recent news Tapestry - a house of iconic accessories and lifestyle brands consisting of Coach- Kate Spade- and Stuart Weitzman - will acquire Capri Holdings in a reported $8.5 billion deal. It brings together six fashion brands: Coach- Kate Spade- Stuart Weitzman- Versace- Jimmy Choo and Michael Kors. The combined company generated global annual sales in excess of $12 billion with a presence in over 75 countries and achieved nearly $2 billion in adjusted operating profit in the prior fiscal year.

Michael Kors' mission is to deliver accessible luxury to a global audience, combining timeless design with modern sensibility. The brand is dedicated to offering high-quality products that reflect the essence of sophisticated style, catering to the diverse needs of its customers. By blending classic American sportswear with a cosmopolitan flair, Michael Kors aims to create pieces that are not only stylish but also practical, ensuring that luxury is within reach for fashion-conscious individuals around the world.

At the heart of Michael Kors' mission is the commitment to excellence and innovation. The brand continually strives to push the boundaries of design while maintaining an unwavering focus on craftsmanship and quality. This mission is reflected in every aspect of the brand, from the meticulous attention to detail in its products to the seamless shopping experience it provides. By upholding these values, Michael Kors aspires to be more than just a fashion label, but a symbol of enduring elegance and modern luxury.

With the company’s heritage rooted in a glamorous aesthetic that combines elegance and a sporty attitude, luxury fashion brand Michael Kors envisions bringing a sophisticated jet-set lifestyle to women and men around the globe. This vision is deeply embedded in the luxury brand’s DNA, reflecting Michael Kors' commitment to creating versatile, timeless pieces that exude both luxury and practicality. By merging classic American sportswear with a touch of high fashion, Michael Kors offers a unique blend of casual chic and upscale glamour.

Michael Kors aims to cater to the needs of the modern, on-the-go individual who values both comfort and style. Whether through its signature handbags, watches, or ready-to-wear collections, the luxury fashion brand ensures that every piece contributes to a well-rounded wardrobe that can effortlessly transition from day to night. This approach has helped Michael Kors resonate with a global audience, making it a staple in the fashion world.

Michael Kors' vision extends beyond mere fashion; it is about creating an aspirational lifestyle that is accessible to a broad audience. The brand’s consistent emphasis on quality, innovation, and attention to detail has solidified its position as a leader in the luxury market. By continually evolving its designs while staying true to its core aesthetic, Michael Kors remains at the forefront of the industry, inspiring a sense of effortless luxury that appeals to fashion-conscious individuals worldwide.

Michael Kors has been widely recognised for its contributions to the fashion industry. The brand’s founder, Michael Kors, received the CFDA Women’s Wear Designer of the Year Award in 1999 and the CFDA Lifetime Achievement Award in 2010. The company has been praised for its innovative designs and global business success. It was included in Forbes' list of the most valuable brands and is recognised as a leader in accessible luxury fashion. Michael Kors is also acknowledged for its philanthropic efforts, particularly through its partnership with the United Nations World Food Programme to fight global hunger.

Michael Kors collections include men’s and women’s ready-to-wear, accessories, footwear, wearable technology, watches, jewellery and fragrance. Each product is meticulously designed, combining modern trends with timeless elegance, making them suitable for any occasion. In addition to its product lines, Michael Kors provides a premium shopping experience through its global network of stores and online platforms. The luxury brand’s services extend beyond mere transactions, focusing on personalized customer experiences that reflect the luxury and sophistication of its products. Whether through in-store styling consultations or online customer support, Michael Kors ensures that every interaction aligns with its commitment to excellence. This dedication to providing not just products, but an entire luxury experience, has solidified Michael Kors as a leader in the fashion industry, catering to a discerning clientele who values both quality and style.