Herrera has dressed various First Ladies of the United States, including Jacqueline Onassis, Laura Bush, Michelle Obama, and Melania Trump.

[1][2] Her father, Guillermo Pacanins Acevedo, was an Air Force officer and her mother, María Cristina Niño Passios, was a former governor of Caracas.

[7][8] Her socialite grandmother introduced her to the world of fashion, taking young Carolina to shows by Balenciaga and buying her outfits at Lanvin and Dior.

[4][9] In 1981, her brand received recognition from several key publications, including Women's Wear Daily and Tatler, with particular early attention to her well-designed sleeves.

[20] In 2008, the company launched a ready-to-wear brand called CH Carolina Herrera, a lifestyle line that offers a range of products for women, men and children, with a strong emphasis on accessories and leather goods handcrafted in Spain.

[24] In February 2016, it was reported by WWD that the fragrance side of the business had more than 25,000 points of sale across the globe while the CH brand included 129 freestanding stores.

[33] In late 2016, the company filed a lawsuit in the New York Supreme Court seeking to block designer Laura Kim – a consultant who had been offered to succeed Carolina Herrera as creative director – from joining Oscar de la Renta.

[20] For the design, production and global distribution of sunglasses and optical frames, Carolina Herrera has been working with licensing partners Indo (1997),[20] De Rigo Vision (2011–2021)[38] and Safilo (since 2022).

Herrera is a recipient of The International Center in New York's Award of Excellence as well as Spain's Gold Medal for Merit in the Fine Arts, which was presented to her in 2002 by King Juan Carlos I.

[52] Before their eventual divorce in 1964, they became the parents of two daughters:[53] In 1968, in Caracas, she married Reinaldo Herrera Guevara, who had inherited the Spanish title The 5th Marquis of Torre Casa in 1962 upon his father's death.