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Michael Kors billion dollar brand

By FashionUnited

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Michael Kors has been in the arms of Wall Street for some time, and now joins an elite list of fashion

billionaires, as this week his company's stock rose 17 percent.

Kors joins the ranks of a very small group of fashion individuals, such Erling Persson, the billionaire founder of H&M and Sara Blakely, the billionaire founder of Spanx.

Interestingly, Michael Kors dropped out of the Fashion Institute of Technology and instead went to work at a small boutique on 57th street, in the heart of the upmarket fashion district in New York.

Kors launched his own label in 1981, but went bankrupt in 1993. He relaunched his own label in the same year when he was appointed as creative director of Céline in 1997.

The rest, as they say, is history.
Michael Kors