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They also invested millions of dollars in advertising, flooding international markets with Hilfiger's name and attracting a trend-setting young urban crowd to the brand They had already bought the British luxury-goods firms Asprey and Garrard in 2000, and after unsuccessful runs at Valentino, Brooks Brothers and Calvin Klein, the partners went after Kors He's talking about the millions of consumers out there who may covet designer fashion but are not prepared to shell out $850 for one of his 10-ply cashmere sweaters or $8,900 for hand-beaded pants S Then in the '90s the urban and street look took off, and Tommy Hilfiger owned that com: Latest News Kors, 45, not only had the right experience; he was hungry 16, 2004 ----------------- Road to Athens Aug 23, 2004 ----------------- Al-Qaeda in America Aug In the '90s, they put their money and Seventh Avenue experience behind a novice designer named Tommy Hilfiger " What's interesting is just how calculating Stroll and Chou are about this launch "I know it's going to be a huge seller," says Kal Ruttenstein, the fashion director of Bloomingdale's 30, 2004 "I've never dressed this group before," exclaims designer Michael Kors It sounds simple, but just how do you dress 100 million Americans? "Every generation of consumers has a specific taste," says Chou , more than 400 customers showed up to shop, despite a power outage The secret of their success is the combination of Chou's manufacturing power — his family owns Novel Denim, one of the largest suppliers of textiles, sweaters and yarns in the Far East — and Stroll's keen knowledge of international distribution, product development and marketing 9, 2004 ----------------- The Mind of John Kerry Aug "Chou and Stroll know how to market 12, 2004 ----------------- 9/11 Commission Apr 8 billion global brand and next year in Europe and Asia " All the more reason the stores are betting on Kors They took Hilfiger from a $25 million jeans business to a $1 So he's launching MICHAEL Michael Kors (yes, the first name twice), intending to swathe Americans in what he calls "affordable luxury"--bright Argyle sweaters, paisley-print raincoats and stamped-leather handbags, most priced at less than $500 " Chou and Stroll have grown confident in their ability to predict changing consumer tastes and then to satisfy the new appetite Or who may not even know his name Time was, a fashion designer would land on Seventh Avenue and either strike the right chord or strike out Not your typical fashion prince, Kors calls himself a T-shirt-and-jeans kind of guy — a bit, you might even say, like Ralph and Calvin — and is more gossipy gadabout than aloof designer "Kors has partnered with people who are very smart and very successful," says Janice Kaplan, executive vice president of ready-to-wear at Federated Department Stores, the retail giant that will feature the line in Bloomingdale's, Macy's, Burdines and Bon-Macy's 5, 2004 SPECIAL REPORTS Tech TIME: Back to School Election 2004 Creators at Carnegie Exploring Saturn PHOTOS AND GRAPHICS Backstage With Bush Bush's Cabinet TIME Poll Quotes of the Week This Week's Gadget Cartoons of the Week More graphics >> More photos >> MORE STORIES Science: Catching the Sun Business: Ralph Redux? Sports: The Wrap-Up More Stories >> CNN And no other designer has attempted to launch so many different product categories at once: more than 10, including a full line of men's wear, women's wear, handbags, belts, shirts, eyewear and watches They want smart casual The new collection debuts this month in 350 department stores across the U 30, 2004 ----------------- Saving the Big Cats Aug and Dillard's To prevent the stores from cherry picking, they made the unusual stipulation that in order to carry any part of the collection, retailers would have to buy from each category Finally, they devised a family-theme advertising campaign that would attract a 35-year-old mind-set With Hilfiger, they were able to use manufacturing muscle to lower prices below those of competitors like Ralph Lauren These days, no one can afford to be so haphazard 26, 2004 ----------------- Iraq: State of Siege Apr As Kors likes to say, everyone wants to look as if they're 35, whether they're 22 and want to be more sophisticated or they're 55 and want to look younger Louis, Mo Although he has worked almost exclusively in the top end of fashion, Kors has the perfect personality for mainstream retail Before long he was selling his line to Bergdorf Goodman 19, 2004 ----------------- Why Did Jesus Die? Apr Canadian-born Stroll and Hong Kong — based Chou were the masterminds behind Ralph Lauren's international licensing deals throughout Europe in the 1980s "In the '80s it was Waspy, which is what Ralph Lauren delivered He started in the business designing clothes and windows for a small shop in New York City "It was time for him to become the next great American designer," says Stroll, who, along with Chou, conducted a "simple process of elimination" before they put their dollars behind Kors Will the strategy work a third time? So far, it seems to be catching on After picking their designer, Stroll and Chou targeted four department-store chains where they saw a void in the designer better market — including Federated, May Department Stores, Saks Inc The Michael-as-Ralph strategy is the brainchild of Kors' financial backers, Silas Chou and Lawrence Stroll, who bought a majority stake in Kors' company for a reported $100 million in January 2003 through their firm Sportswear Holdings Ltd It's an ambitious plan to say the least, but they've done this kind of thing before Re-creating Ralph is going to be more difficult this time around With these criteria, there were surprisingly few names to choose from "He's very smart, and he's a good designer, and he has finally become a mogul with big money guys behind him Today the consumer is swinging back "We wanted to invest in someone who is American, whose style is aspirational and who is seasoned but not too old Stroll and Chou intend to change that by turning Michael Kors into a $1 billion brand within a decade and taking the company public along the way In the past two years, the better fashion category (second-line clothes created by designers for department stores at lower prices than designer originals) has been saturated with new lines from the very same Ralph Lauren, not to mention Tommy Hilfiger and Calvin Klein In 2001 Chou and Stroll cashed out their holdings in Hilfiger and a year later relinquished their co-chairman titles in order to branch out and invest in other brands 8, 2004 Past Issues----------------- How To Live To Be 100 Aug Then they signed several licensing deals including watches and men's suits, shirts and ties Kors built a fashion reputation dressing American jet-setters in cashmere and sequins, but now he covets single-name status like Ralph or Calvin Look what they did for Tommy Hilfiger In 1992 they took the company public with one of the industry's most successful IPOs After 23 years in business, one trip to bankruptcy court and a seven-year relationship with LVMH Moet Hennessy Louis Vuitton, where he designed the Celine line, Kors was respected but not iconic " LATEST COVER STORY Inside George Bush's Mind Sept Making Of An Icon How does a fashion designer get single-name status? Michael Kors thinks he has the answer By KATE BETTS NORMAN JEAN ROY FOR TIME Fashion designer Michael Kors in his Manhattan office Monday, Aug Before them he was a total unknown He is known for leading his ladies-who-lunch customers into the fitting room and genially telling them what to wear At Kors' first personal appearance at a trunk show in St He is a former child actor who was nicknamed Chuckles for his sense of humor 2, 2004 ----------------- It's Vegas, Baby! July 26, 2004 ----------------- The Contenders July 19, 2004 ----------------- Michael Moore July 12, 2004 ----------------- Thomas Jefferson July 5, 2004 ----------------- Bill Clinton's Memoirs June 28, 2004 ----------------- Faith, & the Oval Office June 21, 2004 ----------------- Ronald Reagan June 14, 2004 ----------------- The Obesity Crisis June 7, 2004 ----------------- D-Day May 31, 2004 ----------------- Moment of Truth May 24, 2004 ----------------- Abu Ghraib Scandal May 17, 2004 ----------------- The Teen Brain May 10, 2004 ----------------- Low-Carb Nation May 3, 2004 ----------------- The TIME 100 Apr The probe followed an uproar earlier this year when Irwin was shown on television feeding a large crocodile at his Australia Zoo in Queensland state while holding his baby son Another clip shows him lying on rocks close to a leopard seal com/ came up to our boat," Irwin told Australian television's Nine network on Monday But Stone said the permit would not have allowed Irwin to jump in and pat the animals Irwin, who gained fame in the 1990s with his show on the Animal Planet network, dismissed suggestions he had endangered his son, saying he kept the baby safely in his arm farthest from the crocodile " Parliamentary environment secretary Sharman Stone confirmed Irwin's company was granted approval to film whales The clips show Irwin and penguins skimming down a slope, though it is unclear how close he is to the penguins Irwin called media reports of his latest run in with authorities "just a big storm in a tea cup discovery Irwin, the TV host of the "Crocodile Hunter" wildlife program, stunned onlookers by carrying his son, Bob, then only a month old, into a crocodile pen during a show in January so I grabbed hold of the iceberg and I'm sitting on the iceberg while these whales are just all over us," he added "What happened mate was, when we were down in Antarctica, these two beautiful humpback whales But the exuberant Australian entertainer best known for wrestling crocodiles on his popular television show denied any wrongdoing, saying he had only climbed onto an iceberg after his dry suit ripped while his company was filming the whales Croc Hunter Irwin in Hot Water Over Swim Jun 14, 10:14 AM EST "Crocodile Hunter" Steve Irwin is in hot water again â€â€? this time for allegedly swimming with two whales in the ocean off Antarctica and getting too close to penguins and seals â€â€?â€â€?â€â€?â€â€? On the net: Animal Planet: http://animal "My dry suit had ripped, so it was leaking water, and here's this iceberg, a little iceberg He apparently was reported to authorities by people on a passing ship who thought they saw him riding on a whale's back Australian environmental authorities were investigating the allegations that he breached regulations governing how close people can get to wildlife in the Antarctic Stone said authorities also were concerned about clips of Irwin's upcoming documentary "Ice Breaker," which is due to air on the Animal Planet network on Friday He tucked the infant under one arm while tossing the 13-foot reptile a piece of meat with the other |
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