Jimmy Choo bought by US fashion house in £900m deal

Wed, 26 Jul 2017 | BUSINESS SALE

Luxury shoemaker Jimmy Choo has been bought by US fashion house Michael Kors Holdings in a deal believed to be worth around £900 million.

Best known for its stiletto shoes, which sell for up to £3,000 a pair, the brand was founded in an East London workshop in 1996.

After shooting to fame thanks to Sex and the City’s Carrie Bradshaw and her devotion to the brand, Malaysian founder Jimmy Choo has designed shoes for the high street and more exclusive customers, with famous owners including the Duchess of Cambridge, Beyoncé and Kendal Jenner.

The firm also produces and sells a range of other luxury goods, such as bags, perfume, trainers and hats, from its 150 stores around the world and via 60 franchise outlets.

Founded by Choo and then Vogue accessories editor Tamara Mellon, the shoemaking firm has changed hands several times since through a string of private equity firms. Choo sold his 50 per cent stake in 2001 while Mellon left in 2011, after JAB Luxury bought the firm for more than £500 million.

Michael Kors’ £896 million acquisition is expected to be finalised this autumn, marking a significant mark-up on the £545.6 million the British firm was valued at when it launched on the London Stock Exchange less than three years ago.

John Idol, chief executive of Michael Kors, said: “Jimmy Choo is known worldwide for its glamorous and fashion-forward footwear. The company is a leader in setting fashion trends. Its innovative designs and exceptional craftsmanship resonate with trendsetters globally.”

Like Jimmy Choo, Michael Kors is also named for its founder and creative force. The brand is described as a “more affordable” upmarket label and is considered one of the world’s fastest-growing fashion labels, selling shoes, eyewear, watches, jewellery and perfume.

Find a retail business for sale
Subscribe to Business Sale Report


Share this article



Latest Businesses for Sale

Range of Boxed & Ex-Display Lighting & Accessories (Fast Sale)
UK Wide

Closing From 10am Monday 25 March 2019. Subscribe for more information and seller contact details.

Asking Price: Offers Invited
Turnover: £500k - £1m

Newsagents & Card Shop
Royton, Oldham, Manchester, UK Wide

Shopping precinct trading location. Spacious premises. Parking to rear. Mainly managed by staff. Offers invited.

Asking Price: £79,950
Turnover: £480,000

LEASEHOLD


Garage & MOT Station
Aughton, Sheffield, South Yorkshire, Yorkshire and the Humber, UK

Established Since 1990. Automated MOT Test Station completed with reliable and experienced staff. This is a retirement sale. Offers invited.

Asking Price: £359,950
Turnover: £358,198

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
18
 
Mar
 

Buyer sought for Leeds pub group | ADMINISTRATION

Administrators for pub group headquartered in Leeds are on t...

 
17
 
Mar
 

Tavistock places two North East pubs for sale | BUSINESS SALE

The Lambton Worm and The New Plough pubs in County Durham ha...

 
16
 
Mar
 

Construction mogul Dawnus braces itself for administration | ADMINISTRATION

Dawnus Construction, the property development giant based in...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
24
 
Apr
 

Luxury shoemaker Jimmy Choo is up for sale | BUSINESS SALE

Jimmy Choo, the luxury shoemaker worn by actresses, royalty ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources