jimmy-choo

MICHAEL KORS TAKES OVER JIMMY CHOO: THE UNEXPECTED ACQUISITION

Elegance at its extreme, capturing the heart of many at runways, creating stylish pieces for men and women, the brand Michael Kors is one of its kind.

But in recent times the brand is known for its fashion-forward designs and competitive prices, which is heavily reliant on outlets and department stores, where deep discounting is common. The brand became a famous household fame, charismatic and eponymous by the founder with his “Project Runway.” Its approach to fashion focused on the idea that every woman wants to look “pretty and rich”. For years, Michael Kors enjoyed soaring revenues as customers embraced its glitterati-inspired accessories at affordable prices.

But the company stated languishing soon after becoming successful.Deciding to close down 125 stores, American bag and accessories maker Michael Kors is buying luxury shoemaker Jimmy Choo in a deal worth $1.35 billion.

Glamorous style and trend-setting nature of Jimmy Choo designs will now be a part of the elegant world of Michael Kors.

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Though being from the same segment, both the brands Michael Kors targeted the acquisitions, focusing on luxury companies that “lead in style and trend” but also “have got some size and scale” as well as “some heritage” which holds true for Jimmy choo.

Jimmy choo, the British luxury brand has fans like Beyoncé and the Duchess of Cambridge. Famed for its strappy stilettoes, which sell for up to £2995, the brand was founded in a Hackney workshop in east London in 1996 by the Malaysian shoemaker Jimmy Choo, after his designs caught the eye of then Vogue editor Tamara Mellon. Shot for fame through the fictional character of  Carrie Bradshaw’s tv series Sex and the City, the firm runs 150 of its own stores around the world and a further 60 franchise outlets where the brand sells bags, perfume, trainers, hats as well as its shoes.

The deal presents an opportunity for Michael Kors to extend its arms in the high end luxury market, to increase sales and to diversify into new variations. The deal would mark a new product line were Jimmy Choo might  make forays into fragrances and sunglasses.

Jimmy Choo, known worldwide for its glamor and fashion-forward footwear, is a leader in setting fashion trends and innovative designs with exceptional craftsmanship. It will now help Michael Kors to reach new horizons.

Collaboration of the subtleness of Michael Kors with the blinging Jimmy Choo has shaken the fashion world, but people are looking for the revamped look in the luxury world.

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