Stella Dimoko Korkus.com: Michael Kors To Buy Jimmy Choo in $1.2 Billion Deal

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Wednesday, 26 July 2017

Michael Kors To Buy Jimmy Choo in $1.2 Billion Deal

Jimmy Choo has a new owner.


Michael Kors said on Tuesday it has agreed to purchase the luxury shoemaker for approximately $1.2 billion, adding a coveted global brand to the U.S. retailer's stable as its own handbag and accessories sales suffer.

Many retailers have faced declining sales in recent years amid fierce competition from online shopping and discount and fast-fashion stores like TJMaxx and H&M. In an attempt to woo shoppers, Michael Kors has offered heavy discounts, but has ended up giving people reason to pause before paying full price and diminishing the brand's cachet.

Sales have taken a nosedive, declining 11% in the latest quarter, and investors have wiped away a third of the stock's value in the last year. Michael Kors is in the process of closing 100 to 125 of its standalone stores, renovating another 100-plus stores and doubling down on more innovative designs. It also said it would rein in its discounting and sell fewer items to department stores, which are prone to marking down items in order to move inventory.


The acquisition will give Michael Kors a new avenue for international growth and a foothold in the luxury shoe market. "We admire the glamorous style and trend-setting nature of Jimmy Choo designs," said Michael Kors, honorary chairman and chief creative officer, in a statement.

Jimmy Choo was started in 1996 by British Vogue editor Tamara Mellon and designer Jimmy Choo. Its stilettos, which often cost north of $1,000, quickly became a favorite among celebrities like Sarah Jessica Parker and Princess Diana.
From Forbes



*Michael Kors have really taken their brand to another level..Now i can buy their wristwatch..I used Yimu at it.
Byebye Jimmy Choo.....Chai!!!

25 comments:

Olivia Silk said...

Me too never liked the brand, mainly cuz everyone I know owns a Micheal Kors item, both real and fake.

Last month I saw a set of MK wristwatch with 3 bracelets, I fell in love with it cuz I love sets like that, I gifted myself an Anne Klein set last Christmas.

I might just buy the MK watch set.

But mennnnnn, too much expenses these days. I can't see myself anymore.

Please if you have any money you are not using, send it my way mbok.

Anonymous said...

I have @Micheal KOR wrist watch sinxe a year ago.... My @Aunt got it for me


If I wear am.. People dey think say I get money.. .kikikiki.... Dem no no say Na "Gift " oo





@Anonymous Orubebe

Doppelgänger said...

Reason you have to be at the top of your game and keep up with the economic changes or risk getting sidelined. Anytime I see 'ordinary' people rocking Michael kors watch I just laugh. Original Michael kors doesn't cost less than a $100. Let me not be an hushpuppi.

Broomstick said...

Jimmy Choos gone before I could get a pair?! 😭😭😭 Hope Manolos are safe from "reception" cos I won't forgive them if they go belly up before I can fulfill my "Carrie" desires

Princess Scheherazade said...

This will just water down the Jimmy Choo brand. At 1.2 billion dollars though, Jimmy, Tamara and shareholders have certainly cashed out and can even come up with another lux brand if they're addicted to the headaches and excitement of brand development.

danny fisiye said...

seen



#GOAT™

The General's Wife said...

Hahahhahaha

Better rock it well o.
Cos babe,they just switched up their game even higher😂

The General's Wife said...

Hahahhahahaha
But No dear this doesn't mean u stil can't get ur fave shoes. Plus the M brand 😂

QUEEN AMY Loves ACCESS BANK said...

I have Mk I bought #1000, its so fine

SWAG LAFRESH said...

Nice but Aba and China won't make MK shine bright.

The General's Wife said...

You aren't alone.

I never really liked MK simply cos it was everywhere. I used to wonder if it mattered. And I'd course I re-assured myself it did matter😂
I have a pal that deals in luxury items and she has quite an enviable collection of them and they are all pretty but still it mattered to me😂

Even though my friend said I shouldn't bother about it Bn everywhere as some of those Stuff I see around are MK fakes and some,their low-ends.

But boy! Low-end and high-end I still cared.
Wouldn't want to walk into a function and there are like 7 of you carrying the same item.

And the plenty fakes didn't help matters at alll.

Now hoping as they go Way-high that their worth sky-rockets off the roof and I can now proudly own any of their Luxury brands😉

Olivia Silk said...

Lol.
Manolo! I would love to own one ooo. A blue one.
Someone I know sells at N42k.

Too much money. Lmao.

miss kenefo said...

I love the Michael kors brand because it's the high end brand I find the most affordable. Their wristwatches are classy and feminine. I've got one that cost me about 75k when converted. I absolutely love it. I had another rose gold wristwatch but I forgot it in a taxi. The trick is to order directly from their online stores. I usually go online select and ask my brothers or friends to help me order and bring to naija whenever they travel.

For shoes I still go with aldo and river Island. I have a pair of river island pumps I've been using for four solid years. It has refused to spoil. They are quality shoes that are affordable and last a long time. I'm still upcoming so these are the brands I can afford.

Till date I have never bought a pair of louboutins. I find them to be uncomfortable and a complete waste of money. The only pair I have was gifted to me by my brother's wife and I wish she had given me something else. I still have it because it's a taboo to sell or gift out gifts in my house.

Anonymous said...

Manolos for 42k ??!!! You mean the type that hurts ur feet like hell ??!!! Hmmm up China. I'd rather buy a look alike and walk on the same floor as those who're wearing the originals with enough change in my pocket side eyeing the ones wearing the originals stifling a chuckle. Hahaaahhaaaa !!! I personally believe it's a sin to buy a bag worth more than 1500£ . I mean ppl are dying of hunger out there . I can't do it I'm afraid.

Miss Ess said...

Giod for them

Anonymous said...

I love you already

Just buy the one of 500 pounds and give me the 1k change

Since you are afraid



@Anonymous Orubebe

SWAG LAFRESH said...

Ollie, I don't think that's original

The General's Wife said...

Aldo shoes are fashionable and I love them cos have really high heels. Really high. And very strong. I stil have a pair that wil clock 5 this year.
The other pair spoilt juts last year. The heel broke.

And have u noticed that their junk jewelry is BAE!
Doesn't wash. I love ALDO!❤️

Olivia Silk said...

Yeah, Swaggie, I know but at least e no go bad.

Olivia Silk said...

Now you are making me want to get it Nwunye G.
Biko stop it.
Ego adiro.

chim_oma said...

You babes aren't left alone, I so hate mass production or anything people know about which can easily duplicated. That's why I mostly buy from all these not so popular brand but still expensive like Windsor, Comma, etc, or sometimes I drift,can't imagine wearing uniform around, though I do sometimes,but very rare,or even if I want to buy,must not be those popular products from the brand.

chim-oma a.k.a. Miss Kapusu

chim_oma said...

popular brands

chim-oma a.k.a. Miss Kapusu

chim_oma said...

Olivia, why not kukuma use the money to buy something better and stronger, I mean something quality but another brand.

chim-oma a.k.a. Miss Kapusu

Anonymous said...

Extra ordinary you

Anonymous said...

That is what we call original fake 😂

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