Jimmy Choo contributes to Michael Kors growth
13/11/2018
High-end footwear brand Jimmy Choo, which Michael Kors acquired at the end of 2017, contributed $116.7 million towards the total. The group said this figure was higher than it had anticipated and that it was driven by strength in footwear.
Michael Kors announced in September that it had agreed to acquire Italian luxury fashion house Gianni Versace for €1.83 billion ($2.12 billion at the time of the agreement). Once this acquisition is completed, the group will change its name to Capri.
John Idol, Michael Kors chairman and CEO, said: “As we enter the second half of fiscal 2019, we look forward to welcoming Versace into our group. With the acquisition of Versace we have built one of the world's leading fashion luxury groups in just one year, setting the stage for accelerated revenue and earnings growth.”
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