Michael Kors Reaches Billionaire Status: Meet the Fashion Billionaire's Club
We told you earlier that Tuesday was a big day for Michael Kors: shares of Michael Kors Holdings soared 20%, making his company worth $18.5 billion, and placing Mr. Kors firmly in the ranks of the fashion billionaires.
They're rich, they're influential, and there are even a few women on the list (gasp!). They can afford to wear whoever they want, whenever they want — not just their own designers. What makes a brand billionaire-worthy? Gabriella Santaniello, managing director of retail market research at Wedbush Securities, told Slate, "It’s about creating a lifestyle that is genuine, with keen attention to detail. There is an authenticity to how these designers represent their brands, which is reassuring to the consumer who wants to be part of that world." In short: recognizable aesthetic that makes us weak in the knees. Here are 11 other fashion billionaires whose designes and wares hit that sweet spot.