On Tuesday, July 25, Michael Kors Holdings officially announced that they had bought the British shoes and accessories company, Jimmy Choo.
Michael Kors Holdings paid a total sum of one billion euros for the luxury shoe and accessory label. Founded over twenty years ago by the Malaysian designer, Jimmy Choo, and the Vogue UK journalist, Tamara Mellon, the label earned its name when one of its designers became Princess Lady Diana’s personal shoemaker.
Jimmy Choo is also frequently spotted on some of the biggest celebrity names, including Kate Middleton, Michelle Obama and Sex And The City’s Carrie Bradshaw. It quickly became well-known in the fashion industry as one of the most in-vogue brands.
Unfortunately, after entering the London Stock Exchange two years ago, the company announced that it was up for sale in April 2016. Michael Kors, the designer label since 1981, quickly took interest in Jimmy Choo’s offer.
The president of the sold company, John D.Idol explained: “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.”