Why Michael Kors Is Paying $1.2 billion for Jimmy Choo [The Motley Fool]
MICHAEL KORS HOLDINGS (KORS)
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Source: The Motley Fool
Michael Kors' first acquisition is a splashy buy of a well-known luxury shoemaker. Eric Volkman ( TMFVolkman ) Jul 26, 2017 at 7:11PM Michael Kors Holdings ( NYSE:KORS ) has agreed to buy U.K.-based high-end shoemaker Jimmy Choo from its owner, JAB Holding. This is Michael Kors' first acquisition in its limited history as a publicly traded company. Here's a closer look at the tie-up between the two well-known fashion brands. An expensive pair of shoes Michael Kors will pony up 230 pence ($3.00) per share, or around $1.2 billion in total, for Jimmy Choo, one of the most high-profile luxury shoe brands in the fashion world. The deal has been approved by the boards of directors of both companies. Image source: Jimmy Choo. Describing its asset-to-be as an iconic and powerful luxury brand, Michael Kors enumerated its reasons for buying the
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