The London-based shoes and accessories company which became popular in the ’90s, has been acquired by Michael Kors for $1.2 billion following a decline in sales in the last couple of years.
They were put up for sale in April 2017 as the former owners, Reimann family, looked to reduce their luxury holdings. They were reportedly approached by a number of interested buyers but sold to Michael Kors.
The terms of the transaction allows Jimmy Choo to still operate under its existing management team, including the chief executive, Pierre Denis.
Michael Kors is set to open new Jimmy Choo retail stores and develop its online presence, while also expanding its range of fashion offerings.
We’ll keep our fingers crossed to see what these new changes will mean for the brand which was greatly popularised by the late Princess Diana and actress Sarah Jessica Parker in the blockbuster, Sex and The City.