Michael Kors finalises $1.35 billion deal for Jimmy Choo
03/11/2017
“We are thrilled to have completed the acquisition of Jimmy Choo, which brings together two iconic brands to create a global fashion luxury group,” said John Idol, chairman and chief executive of Michael Kors. He added that the footwear brand will be “an excellent complement” to the Michael Kors brand.
Among the advantages Michael Kors expects the acquisition to bring are a more diverse product portfolio, a stronger position in the luxury footwear segment, and greater exposure in global markets, most notably in Asia where Jimmy Choo has had good success in recent years. It hopes to grow Jimmy Choo’s sales to $1 billion.
Image courtesy of Jimmy Choo.
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