Born in 1939 into a life of wealth and privilege in Caracas Venezuela filled with servants and where her mother and grandmother travelled regularly to Paris for the latest fashions, Carolina Herrera was never intended for the business world and stumbled somewhat upon her fashion empire . Always having an eye for fashion and appearing regularly on the International Best Dressed lists starting in the 1970s, Herrera began to think about some sort of fashion related business venture. A friend suggested she produce a line of clothing and in the fall of 1980, when Herrera and her family moved to New York, she brought about 20 dresses with her made by her dressmaker in Caracas and invited people to see them. Upscale fashion buyers soon arrived and wanted the entire line but Herrera, not anticipating such a reaction, was unable to deliver.

After finding a financial backer, Herrera opened a design studio and within a few months, Carolina Herrera Ltd. came into existence with her first collection shown in April 1981. In 1986 Herrera became a household name when she designed the wedding dress for the daughter of one of her clients—Jacqueline Kennedy Onassis.