World Footwear


Michael Kors completes acquisition of Jimmy Choo

Nov 2, 2017 / United States
Michael Kors completes acquisition of Jimmy Choo
Under the terms of the transaction, Jimmy Choo shareholders received 230 pence per share with a total transaction value of approximately 1.35 billion US dollars
John D. Idol, Chairman and Chief Executive Officer of Michael Kors Holdings Limited, commented: “We are thrilled to have completed the acquisition of Jimmy Choo, which brings together two iconic brands to create a global fashion luxury group. Jimmy Choo has a rich history as a leading global luxury house, renowned for its glamorous and fashion-forward footwear, and is an excellent complement to the Michael Kors brand. We believe this combination further strengthens our future growth opportunities while also increasing both product and geographic diversification. We look forward to partnering with Chief Executive Officer Pierre Denis, Creative Director Sandra Choi and the rest of the team as we grow the business globally while continuing to support the strong brand equity that Jimmy Choo has built over the last 20 years.”

With this new deal, the management at Michael Kors is expecting to grow Jimmy Choo sales to 1 billion US dollars. According to the same source, the acquisition of the luxury brand will result in a more balanced portfolio with greater product diversification and an enhanced positioning in the attractive and growing luxury footwear segment. Michael Kors also sees the opportunity to grow in the men’s luxury footwear category and to further expand in the luxury accessories market. With the two brands now under the same group, a greater exposure to global markets, particularly the fast-growing market in Asia is also expected.

The acquisition was funded through a combination of borrowings under the company’s new term loan facility and the issuance of senior unsecured notes, with a weighted average interest rate of 3.1%, as well as cash on hand. The acquisition was effected by way of a UK scheme of arrangement, which became effective on the 1st of November.

Related news

Related Events

  • Nov
    Nov 29-Dec 1, 2017 | New York, United States

    FFANY - Shoe Show

  • Jan
    Jan 12-Jan 15, 2018 | Denver, United States

    Denver International Western/English Apparel & Equipment

  • Jan
    Jan 19-Jan 21, 2018 | Prior Lake, Minnesota, United States

    Northwest Shoe Travelers

  • Jan
    Jan 25-Jan 28, 2018 | Denver, United States

    Outdoor Retailer

Related Organizations

  • AAFA - American Apparel & Footwear Association

    AAFA - American Apparel & Footwear Association

    United States
  • USRA - United Shoe Retailers

    USRA - United Shoe Retailers

    United States
  • FDRA - Footwear Distributors and Retailers of America

    FDRA - Footwear Distributors and Retailers of America

    United States
  • WSTA - World Shoe Travelers Association

    WSTA - World Shoe Travelers Association

    United States