Michael Kors’ Billions & Kate Moss For Vogue
A New Billionaire
New York based designer Michael Kors, creative director of his phenomenally successful eponymous label, has officially become a billionaire, with his net worth spiking by 34 million USD in a single day, due to a whopping 17% rise on the stock market. It is the latest in a string of good omens for the brand which recorded a 77% increase in profits in the most recent quarter. The brand enjoyed an enviably strong retail performance with massive boosts in the sale of leather accessories and watches. Profits were particularly strong in the North American market but analysts are also crediting Michael Kors' ongoing success to its aggressive and proactive attempts to break into the lucrative Chinese luxury market.
Kate Moss Joins Vogue
English model Kate Moss is set to become a contributing fashion editor for British Vogue. The appointment is the first time the model - who has starred in a staggering 33 British Vogue covers as well as innumerable interior shoots - will be involved in the production side of the Vogue magazine. A statement from British Vogue praised her sense of style, her deep knowledge of contemporary fashion and fashion image making, and added how exciting it was for the rest of the Vogue fashion team to work with Moss.
Roberto Cavalli's Changing House
Italian Luxury house Roberto Cavalli is undergoing upheaval with a host of top executives leaving the company. Chief executive officer, Gianluca Brozzetti and chief operating officer Carlo Di Biagio were the first to depart and now Daniele Cavalli, the son of Roberto and Eva Cavalli and the creative director of menswear has resigned from the house. The news comes as the rumors of a possible buyout of the label emerge. Italian weekly Il Mondo reporting last week that European private equity firm Permira was in talks to acquire Cavalli's business for 450 million Euros, or $US 600 million.