Michael Kors Earns Far Less Than We Thought

michael kors fashion designer

The brand Michael Kors is now valued at $12.38 billion, but today WWD reports that Kors himself, who serves as honorary chairman, chief creative officer and director, only makes $7.6 million. On top of that, despite his company’s success following its IPO, the designer took a massive 46.6 percent pay cut, slicing over $6 million from his yachting budget this year.

Last fiscal year, Kors’ took home $13.6 million — and call us money-grubbing, but that already sounds low. We’re no math wizards, but it seems like something’s not adding up for our favorite perma-tan designer, and it’s totally making us rethink our plan to helm a billion-dollar company and go public.

Related Links:
WATCH: Michael Kors Needs Your Help To End World Hunger
15 Things We Learned About Michael Kors At The 92Y
Michael Kors’ New Ads Look Like The Beginning Of A Porn Flick
EXCLUSIVE: Behind-The-Scenes At Michael Kors Fragrance Shoot

Filed Under |
© 2014 Styleite, LLC   |   About UsAdvertiseNewsletterJobsPrivacyUser AgreementDisclaimerContactArchives RSS

Dan Abrams, Founder