Michael Kors to Buy Jimmy Choo in Billion Dollar Deal

posted by Kat - 

High-end fashion brand Michael Kors announced on Tuesday that it's  planning to buy even higher-end shoe company Jimmy Choo in a $1.2  billion deal. Experts say the deal between the Project Runway-famous designer and the Sex and the City-famous  footwear mimics Coach's acquisition of Kate Spade in May, as both deals  reflect the difficulty that high-end brands are having when it comes to  staying competitive amid today's fashion landscape. 

"This deal presents  an opportunity [for Michael Kors] to enter the high end of the luxury  market, to increase sales and to diversify away from its own brand,"  says Jonathan Buxton, head of consumer and retail at Cavendish Corporate  Finance, "especially at a time when it is experiencing declining  same-store sales."

Source:  New York Times


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