Former owner of Yankee Candle, Michael Kittredge has a net worth of $2 Billion today. Born in 1952, his updated wiki, wife, son to parents name are available. Michael Kittredge is an American businessman well known for being the founder of Yankee Candles. He started off from the rags and ended up big in life. Currently he has founded the Kringle Candle brand along with his son Mike Kittredge. His estimated net worth is $100 million!
|Net Worth||$2 Billion|
|Source of Income||Entrepreneur|
|Birth Date||February 1, 1952|
|Parents||James and Jean Kittredge|
Kittredge was born in Holyoke, Massachusetts, United States on February 1, 1952 to James and Jean Kittredge. The family moved to South Hadley when Kittredge was three years old and he attended a local school. From childhood he displayed entrepreneur skills and while growing up as a teenager he aimed to be a rock star and made his local rock band Bristol Curries. The band performed in several places locally and earned fame gradually but eventually broke up. Being broke, he wanted to gift his mother during Christmas and utilized few old crayons to make a scented candle. The item became an instant favourite amongst his neighbors and friends and he soon started selling the candles in school, shops and his neighborhood.
Being inspired by the positive response, Kittredge started selling his creations from his parents garage and with more cash flow he rented an ancient mill for production. His school friends funded him and helped him with a turntable uniquely designed for faster candle production. Initially he worked alone, but slowly with good revenue started recruiting more and more people. Gradually the small home based business turned gigantic and specialized in scented candles, candle holders, accessories and dinnerware. The company was private and specialized in wholesaling but gradually shifted to online and store based sales.
In 1993, Kittredge was diagnosed with cancer and he sold his company to Forstman Little for $500 million in 1998. In 1999 the company turned public. With passing time he realised there is more to life than being just a member of the board of directors. He launched his candle store, this time in collaboration with his son and named it Kringle Candles. Currently there are 120 workers appointed for his company and the store and factory is situated on 200 acres of property.
Kittredge’s wife Lisa encourages and accompanies him for everything. Their son Mike Kittredge is now 21 years old and is busy handling the family business. After selling off Yankee Candles, Kittredge went on a world tour in his humongous yatch named Paraffin but soon realized that only being financially secure and seeing places is not what he wants in life. He moved on to start from scratch and thus came up with the tagline for his Kringle Candles: Seeing The Light! The father-son duo is also busy with handling a restaurant named the Farm Table as well as a Christmas Store named Christmas Barn.