Michael Kors acquires luxury fashion brand Jimmy Choo for $1.35 billion US

Jul 25 2017, 12:51 pm

US mega fashion retailer Michael Kors announced on Tuesday that it will be acquiring Jimmy Choo.

Choo is been a brand synonymous with high end luxury fashion. The shoe and accessory maker has been acquired by Kors for approximately $1.35 billion US, according to a statement.

“We are pleased to announce the acquisition of Jimmy Choo, an iconic brand with a rich history as a leading global luxury house,” said John D. Idol, Chairman and Chief Executive Officer of Michael Kors, in the statement. “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.”

Idol said that Kors is committed to supporting “the strong brand equity that Jimmy Choo has built over the last 20 years.”

From its inception in 1996, Choo offered glamorous, fashion-forward products that gave the brand its DNA. It became a household name, and a dream for many women to own a pair, often showcased in episodes of HBO’s Sex and the City. Ever since, it has been a brand known to style celebrities, royalty, and musicians around the world.

With approximately 150 company-operated retail stores, 560 multi-brand doors and more than 60 franchise stores in premier locations worldwide, Jimmy Choo still has a strong presence globally. In Toronto, Jimmy Choo is located at Yorkdale Shopping Centre.

There are several Michael Kors locations in Canada, including at Vancouver’s Pacific Centre, and Calgary’s Chinook Centre.

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