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Michael Kors Speaks on Getting Through Bankruptcy Without Sacrificing His Design Ethos

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American designer Michael Kors has built one of the most commercially successful fashion labels currently in business today, but it wasn't always easy and Kors once even had to file for bankruptcy. Speaking on the difficult period, Michael commented that in 1993, his huge business was still turning negative numbers and he was advised to begin making conventional cocktail style dresses to help make up numbers in the hopes of making a profit.

Michael turned down the idea and instead launched his lower price line, Kors by Michael Kors, which in a few months completely changed everything and the business began to turn a profit naturally with a surge in sales. Michael commented on overcoming the financial problems, saying that he had to continue on the path he felt was right for the company: ''Sometimes things are not in your control. You can control what you design ... If there's a question and the ground is moving, more than ever you have to stand your ground and be who you are. Within eight months [of filing for Chapter 11 bankruptcy protection] we were back full steam.''

In 2011, the company went public and the designer says that ringing the bell at the New York Stock Exchange was his ''proudest moment'' to date. He adds that when it comes to fashion, he always aims to do something fresh, different and with the ultimate aim of making people feel good: ''My plan has always been to stay curious, to make people feel great when they get dressed and to know what people want before they know it themselves.''

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