Today Michael Kors stock holdings has risen by 12.27%. That is a 20% increase for the former Project Runway judge and he has now reached 2 billionaire. According to Forbes, the fashion icon saw his net worth take off in December 2011 when he premiered his fashion house to the New York Stock exchange and it has paid off.
In an interview with the Wall Street Journal today, the 54 year old revealed that he is putting the billion dollars into his menswear and accessories collection. MK will also announce a new president for his men's company and introduce a new fragrance in Fall 2014 despite the competition. Designers such as Ralph Lauren is one of fashions leading designers in men's apparel and Kors will soon compete indefinitely.
The new billionaire has survived bankruptcy early in his career and is now driving luxury cars and becoming a well known icon in the fashion industry. Just in a day Kors' stock has spiked by 34 million and with the expansion of his men's line, he will surely continue to leave his legacy.