This was published 9 years ago

Michael Kors buys Jimmy Choo for $1.5 billion

Damien Woolnough

July 26, 2017 - 2.59am

Jimmy Choo has sold to Michael Kors for $1.5 billion. Image: Getty.

About $1.5 billion seems like a lot of money for some Jimmy Choos but US fashion giant Michael Kors has expensive tastes, snapping up the shoe brand this week.
Designer and Project Runway regular Michael Kors has called the deal "ideal".

"Jimmy Choo is known worldwide for its glamorous and fashion-forward footwear," said Michael Kors chairman and chief executive John D. Idol.

"The company is a leader in setting fashion trends. Its innovative designs and exceptional craftsmanship resonate with trendsetters globally. We believe that Jimmy Choo is poised for meaningful growth in the future and we are committed to supporting the strong brand equity that Jimmy Choo has built over the last 20 years."

Jimmy Choo was founded by the shoe designer and creative officer Tamara Mellon in 1996 and rose to fame on the heels of Sex and the City and the late Princess Diana.

Since Tamara departed the company in 2013 with a reported $170 million Jimmy Choo has struggled to regain its cool footing despite calling on the modelling services of Amber Valetta, Lexi Boling, Taylor Hill and Game of Thrones star Kit Harington in recent campaigns.

Fans of towering heels are hoping that the Michael Kors acquisition will revitalise the brand and help relive its glory days.

Jimmy Choo’s most famous moments:

1997