Home / Knowledge / News / Fashion / Michael Kors to acquire Jimmy Choo
Michael Kors to acquire Jimmy Choo
25
Jul '17
Courtesy: Michael Kors
Courtesy: Michael Kors
Global fashion luxury brand Michael Kors Holdings Limited has reached an agreement to acquire Jimmy Choo Plc, a premier global luxury footwear and accessories brand. The acquisition of iconic brand would expand Michael Kors’ leadership position in the global fashion luxury segment and strengthen its future growth opportunities, Michael Kors said.

Under the terms of the transaction, Jimmy Choo shareholders will receive 230 pence per share, with an enterprise value of approximately $1.350 billion. The transaction has been approved by the boards of directors of both Michael Kors and Jimmy Choo.

“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,” said John D Idol, chairman and chief executive officer of Michael Kors.

Post acquisition, Pierre Denis will continue in his role as chief executive officer of Jimmy Choo. Additionally, creative director Sandra Choi will continue to lead the creative and design teams at the company. “This continuity of leadership will ensure that the DNA of Jimmy Choo is maintained as we work together to continue to grow the brand globally,” said Idol.

Michael Kors, honorary chairman and chief creative officer of Michael Kors, said, “We admire the glamorous style and trendsetting nature of Jimmy Choo designs. We look forward to welcoming Jimmy Choo to our luxury group.”

“We look forward to working closely with the leadership and team at Michael Kors Holdings Limited to further develop our iconic brand. Our two companies share the same vision of style and trend leadership. Our luxury heritage is the foundation of Jimmy Choo and we will continue to bring our brand vision to consumers globally,” Pierre Denis, chief executive officer of Jimmy Choo, said.

With approximately 150 company-operated retail stores, 560 multi-brand doors and more than 60 franchise stores in premier locations worldwide, Jimmy Choo has a successful, balanced distribution network. The company has a strong presence in Europe, the Middle East, the Americas and Asia. In addition, Jimmy Choo continues to invest significantly in its online platform, which has experienced strong revenue growth in recent years.

The acquisition of Jimmy Choo is expected to deliver a number of benefits, including the opportunity to grow Jimmy Choo sales to $1 billion, a more balanced portfolio with greater product diversification, an enhanced positioning in the attractive and growing luxury footwear segment, the opportunity to grow in the men’s luxury footwear category, further expansion in the luxury accessories market, greater exposure to global markets, particularly the fast-growing market in Asia, and the potential to create long-term operational synergies. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Top executives
Textile industry

It will take some time for the people to change their buying choices

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search