Fashion Cheat Sheet

Michael Kors Becomes a Billionaire; Gisele Bündchen Covers Debut Issue of Net-a-Porter's Magazine

And Taylor Tomasi Hill gets a gig with GOOP.

02.05.14 6:00 PM ET

Michael Kors Becomes a Billionaire: After a successful third quarter, which ended on December 28, 54-year-old fashion designer Michael Kors's company hit one billion dollars in revenue, making Kors a billionaire as well. Stocks for the company have now jumped nearly 20%. The success of Kors's brand is mostly due to its accessories and watch sales, as well as the beauty line, which was launched in August. Kors's company expects to be "one of the most significant brands and the fragrance market globally," a rep of the brand said on Tuesday's earnings call. [Bloomberg]

Gisele Bündchen Covers Porter Magazine: Luxury e-tailer Net-a-Porter has unveiled the highly-anticipated cover of its first print magazine, featuring supermodel Gisele Bündchen. Shot by fashion photography duo Inez and Vinoodh, Bündchen is shown in a warm, intimate portrait, wearing a red Chanel crop top, alongside the caption "The private world of the $300 million woman." The magazine hits newstands February 6 and will be available six times a year. [Fashionista]

Taylor Tomasi Hill Gets a Gig With GOOP: Following her surprising exit from Moda Operandi, fashion editor Taylor Tomasi Hill has finally broken her silence on to her next career move. On Wednesday, WWD reported that Tomasi Hill will be covering New York Fashion Week for GOOP, the lifestyle website run by Gwyneth Paltrow. "Taylor is a breath of fresh air," Paltrow said. "Her irreverent moments keep fashion week interesting for me—edgy and chic, she's always worth watching." Tomasi Hill is equally as thrilled with her new gig. "Gwyneth is a true leader, both in the world of fashion, and in the greater realm of lifestyle, and working with her is inspirational," the editor said. [WWD]