Michael Kors buys Jimmy Choo

American fashion brand Michael Kors buys British fashion brand Jimmy Choo for approximately USD 1.35 billion. The transaction has been approved by the boards of directors of both Michael Kors and Jimmy Choo.

John Idol, Chairman and Chief Executive Officer of Michael Kors, said, “We are pleased to announce the acquisition of Jimmy Choo, an iconic brand with a rich history as a leading global luxury house. Jimmy Choo is known worldwide for its glamorous and fashion-forward footwear. The company is a leader in setting fashion trends. Its innovative designs and exceptional craftsmanship resonate with trendsetters globally. We believe that Jimmy Choo is poised for meaningful growth in the future and our company is committed to supporting the strong brand equity that Jimmy Choo has built over the last 20 years.”

Pierre Denis will continue in his role as Chief Executive Officer of Jimmy Choo. He has led the company since 2012

Michael Kors, Honorary Chairman and Chief Creative Officer of Michael Kors, said, “Jimmy Choo is a premier fashion luxury house that offers distinctive footwear, handbags and other accessories. We admire the glamorous style and trendsetting nature of Jimmy Choo designs. We look forward to welcoming Jimmy Choo to our luxury group.”

- APMR News