Kors himself falls firmly into this category ? last year he officially joined the Forbes global list of billionaires.He lives in Manhattan’s pretty, pricey West Village with his long-term partner Lance LePere, whom he married on the beach in Long Island in 2011. Not that it sounds as if he’s home all that much.
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How do you stay in the know about what the girl on the street wants to buy? ‘I people-watch all the time?it’s one of my favorite things to do while we’re sitting in traffic. I listen to the women in my office, I listen to my friends and I try to solve the problems they’re encountering in their wardrobe every day. My schedule makes it impossible to do as many trunk shows as I once did?though I actually love doing them. But with social media, we’re constantly getting feedback from our fans?it’s like a 24/7 digital trunk show.’ How do you feel about being a personality, as well as a designer and a businessman? ‘I like interacting with people and I love being able to inspire and help women everywhere feel like their best self, so yes, I’d say it’s something I enjoy. Fashion fame is nice fame?it’s not like celebrity fame where you can’t step outside without being followed by paparazzi.’
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As its products gained buzz and the IPO gave it an infusion of?capital to grow, Kors expanded aggressively, its store count mushrooming from 231?in 2011 to 703 in 2014. The company was consistently seeing stratospheric comparable sales growth; in the second quarter of fiscal 2013, that figure?soared as high as 45 percent.And so for Kors, this most recent earnings report is still solid, but it represents a serious slowdown from even one year ago, and the company said its growth would continue to slow in the current quarter.
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