Michael Ying
| Michael Ying | |
|---|---|
| Native name | 邢李㷧 |
| Born | Ying Lee Yuen |
| Residence | Hong Kong |
| Net worth | US$2.8 billion (November 2015)[1] |
| Spouse(s) |
Flora Cheong-Leen (m. 1986–88) Brigitte Lin (m. 1994) |
| Children |
Claudine Ying (b.1987) Ying Oi Lam (b.1996) Ying Yin Oi (b.2001) |
Michael Ying or Ying Lee Yuen (Chinese: 邢李㷧; born December 1949) is a Hong Kong billionaire businessman and philanthropist. Ying is the former chairman and chief executive officer of Esprit Holdings Limited, and remains the largest individual shareholder, with a 15% stake. Ying steadily reduced his majority stake in recent years, pocketing more than $2 billion. Ying has donated to various charitable organizations, and started the Yanai Foundation in 2006 to benefit medical and educational related initiatives.
Early life
Ying was born in Hong Kong in 1949. His father and his family had originated from Wenchang Hainan, China.
Ying came from humble beginnings. His began his career in the earlier years as an ordinary laborer in the manufacturing garment factory, and making his way up to receiving clients such as Esprit. Eventually, by association, Esprit hired Ying as its sole sourcing agent in 1970, being one of the first of their kind to manufacture clothing at that level efficiency and productivity. Esprit Far East Group began operating in the 1970s when its founders Susie and Douglas Tompkins began business with Ying.
Career
In the mid 2000s, Esprit Holdings Limited generated worldwide sales of around EUR 3.25 billion (as of 30.06.2008). Esprit operates in more than 770 retail stores worldwide and distributes products to more than 15,150 wholesale locations around the globe. Esprit has more than 1.1 million square meters of retail space in 40 countries.
The clothier was started in 1968, when Susie and Doug Tompkins sold clothes out of the back of a station wagon in San Francisco. Esprit Far East Group began operating in the 1970s when the couple met Ying.
During Ying's tenure, Esprit's sales surged 30-fold to HK$23.3 billion in the year ended June 2006 from HK$769.7 million in 1993, according to data compiled by Bloomberg. Ying helped oversee Esprit's global expansion and a sales surge during a 13-year tenure as chairman that ended in 2006.
As of November 2015, Forbes estimated his net worth at US$2.8 billion.[1]
Personal life
Ying has now dedicated his time to his family, Yanai Foundation, and maintains a low profile in Asia. Ying enjoys the outdoors, diving, golf and exploration.
In 1986, Ying married Flora Cheong-Leen, a ballerina turned entrepreneur, and together have one child Claudine Ying](born 1987). They were divorced shortly afterwards. In 1995, Ying married Brigitte Lin, former actress, and they have two children together: Ying Oi Lum (born 1996) and Ying Yin Oi (born 2001).
External links
- 1 2 "Michael Ying". Forbes. Retrieved 1 November 2015.