Michael Kors Buying Shoemaker Jimmy Choo for $1.2 Billion

Michael Kors buys shoemaker Jimmy Choo

The all-cash offer equates to 230p per share in the designer footwear company.

Michael Kors said its offer is "final and will not be increased", but that it reserves the right to improve the offer if another third party bid is submitted. We admire the glamorous style and trendsetting nature of Jimmy Choo designs. "We look forward to welcoming Jimmy Choo to our luxury group".

USA retail giant Michael Kors is set to buy Jimmy Choo, which was put up on sale in April. The merger also provides both companies with a more balanced portfolio and greater product diversification; gives Michael Kors an enhanced positioning in the attractive and growing luxury footwear segment; and allows an opportunity to grow men's luxury footwear sales and luxury accessories sales, the company also said.

"Multiple companies such as Jimmy Choo, Prada, Ferragamo, and Cucinelli have gone public over the past couple of years with the intention of financing their retail expansion plans, thus accelerating their investments and giving the luxury consumer globally more choice of brands anywhere they go", Pusz tells Holton.

Overcooked Will be Served Up on Nintendo Switch on 27th July
For those unfamiliar with the original Overcooked , the game released in late 2016 for PlayStation 4, Xbox One and Windows PC. Overcooked: Special Edition includes the base game as well as the Lost Morsel and Festive Seasonings add on content.

The firm was co-founded by Malaysian shoemaker Jimmy Choo, who trained at the renowned Cordwainers Technical College in London, and former Vogue journalist Tamara Mellon in 1996.

Michael Kors is to buy British luxury shoe and accessory brand Jimmy Choo for £900 million, reports The Guardian.

The brand, favored by celebrities including Beyonce, Kendall Jenner, Cara Delevingne, Katy Perry and Emma Stone, was put up for sale in April.

JAB is moving out of fashion to concentrate on its coffee and food businesses, including Krispy Kreme.

Cowboys WR Lucky Whitehead was arrested for petty theft in June
Garrett said the team is gathering information on the incident and did not deny that player in this situation could be released. Whitehead allegedly stole from a convenience store in Virginia, VA for shoplifting/petit larceny under $200.

Jimmy Choo CEO Pierre Denis, an industry veteran with around 25 years of experience, will continue in his role with the brand which he has been in since 2012.

In May, it downgraded its sales forecasts for the rest of the year, and said it would close as many as 125 of its full-price retail stores. Luckily, the Brexit and the lower pound helped lower its pricing overseas and improved its sales, across shoes, perfumes, cosmetics and several accessories.

Its largest shareholder, JAB Holding, acquired the brand back in 2011 for £540 million, or $800 million at the time, and then took the company public in 2014.

That month, Legal Week reported that Freshfields Bruckhaus Deringer was advising long-standing client Jimmy Choo on a prospective sale, fielding a team led by City M&A partner Chris Mort.

Father says time to let Charlie Gard go
Michio Hirano, an American neurology expert from Columbia Medical Center in NY , came to London to examine the child . Charlie Gard , now 11 months, was born with a genetic mutation called mitochondrial DNA depletion syndrome.

Sales have been sluggish of late, however, as the waning post-Brexit pound has helped dampen demand in Europe and the strong dollar has hurt sales stateside.

Related News:

  • Acacia Mining PLC (ACA) Receives Reduce Rating from Peel Hunt

    Acacia Mining PLC (ACA) Receives Reduce Rating from Peel Hunt

    Boston Prtn stated it has 400,282 shares or 0.05% of all its holdings. 17,575 are owned by New England Research Mngmt. The company's 50-day moving average is 1,659.19GBX and its 200-day moving average is 1,627.55GBX.
    Virgil van Dijk to Liverpool 'is totally dependent on Southampton u-turn'

    Virgil van Dijk to Liverpool 'is totally dependent on Southampton u-turn'

    Virgil van Dijk could take Southampton to the "arbitration board" to complain of unfair treatment if still in the Netherlands. Pellegrino reportedly told the media : "The boy said that he is not available to play because he wants to leave".
    Jeremy Corbyn insists he never promised to write off student debt

    Jeremy Corbyn insists he never promised to write off student debt

    Corbyn told the BBC's Andrew Marr Show: "The single market is dependent on membership of the EU". He said: "This is another example of the Labour party being utterly deluded".
  • Meet the Fastest Ford Mustang Ever

    Meet the Fastest Ford Mustang Ever

    That model, too, can be optioned with Ford's new 10-speed automatic. They now have 310 horsepower and 350 pound-feet of torque.
    Ott finishes second at World Series of Poker

    Ott finishes second at World Series of Poker

    Blumstein consoled his opponent, a favourite at the table, after calming down from the euphoria of taking a enormous chip lead. Scott Blumstein , who ended up the WSOP 2017 Main Event victor , came back on Thursday with a big chip lead over the field.
    Pokemon GO's First Legendary Is Lugia, Will Start Appearing For Everyone Soon

    Pokemon GO's First Legendary Is Lugia, Will Start Appearing For Everyone Soon

    Meanwhile, those around the world who aren't at the event will be able to find Lugia in Raid Battles within the next 48 hours. Additionally, Quirico revealed that the next Legendary creature to be added to Pokemon Go is Articuno .
  • Blue Apron stock surges as Wall Street offers rosy outlook

    Blue Apron stock surges as Wall Street offers rosy outlook

    Blue Apron has only one sell rating from Northcoast Research, which initiated coverage with a $2 price target two weeks ago. Since January 1, 0001, it had 0 buys, and 1 insider sale for $40,600 activity. (NYSE:JWN) or 1,905 shares. (NYSE:JWN).
    Iraq not sure of fate of 39 Indians

    Iraq not sure of fate of 39 Indians

    Earlier this month, Iraqi forces, after months of battle with ISIS, rooted out the terrorist organisation from the soil of Mosul. Iraq Foreign Minister Dr Ibrahim al-Jaafari arrived in New Delhi on Monday morning for a five-day visit to India .
    AC Milan vs Bayern Munich 22 July 2017: ICC Preview and Predictions

    AC Milan vs Bayern Munich 22 July 2017: ICC Preview and Predictions

    Milan in the International Champions Cup in Shenzhen unexpectedly defeated the Champions of Germany Bayern . The defender then played a simple ball for Cutrone to slot home for his second of the match.
  • "American Horror Story: Cult" Details Revealed by Ryan Murphy

    Creator and producer Ryan Murphy has shared new artwork that reveals a "love story" in American Horror Story: Cult . Specifically, he's giving fans a peek at the character played by AHS veterans Evan Peters and Sarah Pauslon.
    California teen arrested after 'live streaming fatal auto  crash'

    California teen arrested after 'live streaming fatal auto crash'

    Said Obdulia in the video, "I fucking killed my sister, OK?" Jacqueline Sanchez , 14, of Stockton , was killed in the crash. Her sister was supposed to celebrate her quinceañera (15th birthday) soon. "I love you, RIP sweetie", she says.
    Attack at Israel embassy in Jordan's capital Amman

    Attack at Israel embassy in Jordan's capital Amman

    Three Palestinians were killed and dozens of others were wounded after protesters burned tyres and threw stones and firecrackers. Israel reopened the compound on Sunday with the introduction of metal detectors and security checks installed at the entrances.


Most liked

Markets suspended on Kylian Mbappe as Real bid
Marca claim Real Madrid will pay 160 million initially, with 20 million in incentives. Manchester United spent $122 million on Paul Pogba last summer.

KKR to buy WebMD in whooping Rs 18000 crore deal
Stock price volatility is an indicator that is most often used by options traders to find changes in trends in the market place. The health services provider reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.03.

THOR: RAGNAROK Official English Trailer Released
But, to whet our appetite until later tonight, we've got this seriously cool new one sheet - which you can check out down below. The actor also spoke to the mix of magic and artillery in Thor: Ragnarok , calling the film "quite zany and eclectic and fun".

Get well, Sen. McCain; we need you
Prior to Monday's announcement he would be back on the Hill , it was unclear how long McCain would be away from Washington . Refreshingly, much of the conversation included well-wishes for McCain, from both sides of the political aisle.

Bond sale 'most important message' on road to exiting bailouts, Tsipras says
However, the IMF said it would not release any funds until the eurozone agreed on a deal to cut Greece's €314bn debt burden. This gave Athens the chance to test without major financial risks its credibility in the markets.

Valerian premieres in London's Leicester Square tonight
While her look was certainly dramatic, Cara Delevingne's red carpet look also deserves some attention for its eye-catching nature. While some may have looked fresh out of a museum in this voluminous, lavish gown, Rihanna brought a modern regality.

Chinese fighter jets intercept US Navy reconnaissance plane over East China Sea
A United States surveillance aircraft was intercepted over the East China Sea by the Chinese jets, U.S. media reported on Monday. China maintains a so-called Air Defense Identification Zone over much of the East China Sea, though the US does recognize it.

Sensex, Nifty at record high; RIL, HDFC Bank stocks fuel rally
At 12:28 pm, the 30-share Sensex was up 0.63 or 200 points at 32,230 and the Nifty was at 9966, up 51 points or 0.51 percent. The wider Nifty of the National Stock Exchange ( NSE ) neared the 10,000-level and closed at 9,966.40 points.

India and China face off in border standoff
He also said that their military's ability to defend China's territory and sovereignty had "constantly strengthened". India should abandon any impractical illusions.

Sophie Turner ruined Ed Sheeran's Game of Thrones casting surprise
When asked whether Sansa still maintains any of her season 1 girlish ideas of romance, Turner responded, "I don't think she's like season 1 Sansa".

CM offers Harmanpreet post in Punjab Police
Harmanpreet's family opined that the Indian team gave their best, adding that they expect the latter to perform better in future. Chief Minister Captain Amarinder Singh said Harmanpreet deserved all the adulation and recognition that was coming her way.

Liverpool Announce Klopp's Third Signing
In your opinion, should Liverpool keep Moreno? With the addition of Robertson, Klopp can now be more flexible with James Milner . Eight other Premier League sides, as well as PSV Eindhoven and Sporting Lisbon, were reportedly interested in the left-back.

New trailer revealed at San Diego Comic-Con
At the end of the season one finale, mysterious character Eleven disappeared as it was feared she was trapped in the Upside Down. Picking up right where Season One left off, Will Byers and his friends are still feeling the effects of the Upside-Down.

Taliban group intensifies activities in Afghanistan northern regions
Dawlat Waziri, spokesman for the Afghan Defense Ministry, played down the significance of the takeovers. The Taliban, in a statement to the media, announced the capture of Taywara district headquarters.

WWE Battleground 2017 matches, card, start time, kickoff show, rumors, date
The Battleground between WWE champion Jinder Mahal and Randy Orton begins at 8 PM (EST) for the main show. The Usos defeated Breezango and The New Day to retain their SmackDown Tag Team Titles.