Are the Jimmy Choos worth it? Michael Kors is going to find out. Michael Kors shelled out $1.2 billion to buy the Jimmy Choo shoe brand on Tuesday —a price tag that struck some analysts as staggeringly high, like a pair of $750 Jimmy Choo pumps. Kors Chief Executive John Idol called London-based Choo a...
NYS Entity Status
NYS Filing Date
JANUARY 04, 2013
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2013 - CHOO CHOO LIQUOR & WINE INC.
Around the Web
- Michael Kors acquires Jimmy Choo for $1.2 billion
By Lisa Fickenscher - Tuesday Jul 25, 2017
- Jimmy Choo shareholders vote for Michael Kors takeover
By Reuters - Monday Sep 18, 2017
Luxury shoemaker Jimmy Choo on Monday said its shareholders voted in favor of a $1.2 billion takeover by fashion group Michael Kors. Almost all of the around 318 million votes cast at Jimmy Choo’s general shareholder meeting were in favor of the deal. Michael Kors agreed to buy Jimmy Choo in July. The British shoe...
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- Michael Kors buying Jimmy Choo in $1.2 billion deal
By Elizabeth Paton and Chad Bray - Tuesday Jul 25, 2017
On Tuesday, Michael Kors Holdings of New York said it had agreed to buy shoe company Jimmy Choo of London for about $1.2 billion, the latest push by a U.S. high-end fashion house to find new sources of growth and what its chief executive characterized as the first step in building a bigger international luxury group.Mall traffic in North America has declined sharply, while shoppers who have traditionally been loyal to the middle market have gravitated toward brands at extremes of the style and price spectrum.“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,” John Idol, the chairman and chief executive officer of Michael Kors Holdings, said.Michael Kors, known for fashion-forward designs and competitive prices, is heavily reliant on outlets and department stores, where deep discounting is common.Open-toe slip-on sandals sell for $425, while crystal-encrusted shoes with the brand’s signature sky-high stiletto heels go for nearly $3,000.
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With the fresh, spicy character typical of cool-climate viticulture, the red-wine grape shows another face of American winemaking.
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