Over the recent years Jimmy Choo has become the must have brand for wedding shoes, particularly since one of their statement pieces: the shimmering gold glitter heel complements the traditional red Indian outfit so well! The blend of western and Indian tradition means all brides can strut around on their big day in their luxury brand shoes without the fear of lack of coordination. But what is the latest news we are hearing about the acquisition? and what does that mean for all brides?
So, as we know, the great fashion firm Michael Kors, has bought luxury shoe brand Jimmy Choo, for a whopping 1000 million euros (897 million pounds in particular) – a sum so high that it revolutionises the sector!
In April, the shoe company was declared for sale, only two years after its departure to the London Stock Exchange. Before the news of the market, Michael Kors attacked and took the lead on the operation, which is presumed as the union of two powerful brands to deal with their economic misalignments and the loss of draft in the public in the last time. Thus, the expansion of the catalogue of brands is obvious, but both companies will retain their essence and the independent way of doing business. – So gentlemen, continue to expect the wish lists from your ladies because these edgy designs and bedazzled heels are just what they want!
The operation is yet another example of the behavior that many luxury companies are showing to consolidate. 2017 showed Coach acquire Kate Spade & Co. for 2400 million dollars. The acquisition will be carried out through a bridge loan of JPMorgan Chase Bank and Goldman Sachs Bank USA, which does not violate the requirements established in Great Britain.
Photography: Cordon Press
The news was made official with the approval of the transaction by the board of directors of both Michael Kors and Jimmy Choo. This will formally take place during the last quarter of the year. At the moment, it is known that Michael Kors will pay 230 pence per share, which represents an 18% premium on the closing of the Stock Exchange.
Photography: Cordon Press
Jimmy Choo is one of the most adored designers in the world of shoes, because his presence in the fashion sector has dazzled without reaching saturation. In fact, these spectacular designs are worn by many actresses such as Deepika Padukone and Kareena Kapoor. It has 150 stores in the world, and grossed to 364 million pounds last year.
Photograph: Cordon Press
Michael Kors in 1981 was identified as one of the top affordable luxury brands. However, changes in the sector, have resulted in a negative impact on the brand and therefore this acquisition intends to help remodify them, acting as the first step to recovery. (At the moment, these irregularities have meant the closure of 125 stores for the brand.)
So the brides need not worry! – despite Michael Kors’ acquisition of Jimmy Choo, the former will continue designing beautiful shoes for your big day. Brides do not forget to check out their perfume and purse range to complement your gorgeous outfit.