As life moves on there are many brands who either merge or get bought out due to many different reasons. Recently Coach was discussing buying Kate Spade, but officially Michael Kors has bought Jimmy Choo. Michael Kors has made reports of plummeting sales due to mall stores frequency of shopping has depleted and more people are shopping online and with personl brands. Though Michael Kors is really famous for their purses, bags, watches, and coming forth shoes. Their expansion with Jimmy Choo will add a number of products to the companies offerings.
Of course, how could I forget.
What’s the price? (Migos Voice)
A beautifully rounded $1.2 billion dollars ! The two companies both are very prestigious and have fans across the globe that adore their branding and lifestyle of product.
John D. Idol, chairman and chief executive of Michael Kors, made a statement about the new deal…
“Acquiring Jimmy Choo is the beginning of a strategy that we have for building a luxury group that really is focused on international fashion brands… We believe that Jimmy Choo is poised for meaningful growth in the future. We are committed to supporting the strong brand equity that Jimmy Choo has built over the last 20 years.”
The fashion world is about to be turned upside down! Let’s see what happens when the first Michael Kors x Jimmy Choo Spring collection drops next year !