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Michael Kors buys Jimmy Choo for £896 million

Michael Kors buys Jimmy Choo for £896 million

Michael Kors is a new owner of the world famous British shoe brand Jimmy Choo, the deal was closed this week, and its price was £896 million. It is one of the biggest deals for Michael Kors and one of the most prominent investments.

The American fashion label Michael Kors has already bought another brand, Jimmy Choo, with 21-year-old history. The fashion mark was launched in 1996 by Malaysian designer Jimmy Choo and former Vogue accessories editor Tamara Mellon whose cooperation entered into the fashion’s history.

First of all, original shoes by Jimmy Choo were advertised in the iconic TV show Sex And The City in the 1990s. Thanks to this movie, shoe brand rose to international fame – every girl wanted to wear the shoes like Carrie Bradshaw. It is worth to note that pair of these shoes always cost about £500.

Michael Kors is glad to buy a legendary shoe brandJimmy Choo Michael Kors deal

Michael Kors said it was “the ideal partner” for the brand because Jimmy Choo has developed into a fashion brand that also includes handbags, leather goods, scarves and fragrances. The brand is versatile and prominent, no doubts.

In a statement, the group said it would support the growth of Jimmy Choo through “retail store openings and further development of its online presence”.

Today, Jimmy Choo production is still extremely popular, the fans of the shoes, include Kendall Jenner, Kim Basinger, Nicole Kidman and the Kate Middleton.

Jimmy Choo Michael Kors deal