It looks as though all those watches and bags we bought for Christmas have made Michael Kors a very happy man.
The American designer is officially fashion’s newest billionaire, according to Forbes magazine.
Revenue for the company bearing Kors’ name rose 59 percent for the third quarter, coming out to a total of $1 billion, compared to $636.8 million in revenue for the same quarter the year prior.
The 54-year-old former Project Runway judge hit the big time back in late 2011 when he debuted his company on the New York Stock Exchange.
Europe saw growth of 144 percent for the quarter, meaning all of our Christmas hints paid off for Mr. Kors. You’re welcome Michael.
