Michael Kors is one of the most respected fashion designers in the world. His hand bags are some of the most coveted bags on the market that women from all continents have to have. Kors has clothing and accessories that have a modern take on fashion for women and men. He’s even been a judge on the popular reality show for up and coming fashion designers “Project Runway,” and now he’s expanding his brand and business by announcing that he will be buying the Jimmy Choo brand for $1.2 billion. In a statement released July 25th Kors said; “We look forward to welcoming Jimmy Choo to our luxury group.”
The iconic Jimmy Choo fashion brand has been around for many years and–has had many celebrities wearing their iconic shoes. The brand has been worn by stars such as; Beyonce, Sarah Jessica Parker and Princess Diana–also fashion model Kendall Jenner.
Over the past few years the Jimmy Choo brand has seen a decline in sales. In April of this year the brand was up for sale and got a lot of potential buyers. The Michael Kors brand has also seen a slip in sales–but this move for him to purchase Jimmy Choo could help with his market value.
Kors announcement is adding to the list of other popular brands that have joined other fashion companies. Coach Inc. bought Kate Spade & Co earlier this year. Kate Spade is said to be one of Coach’s biggest fashion competitions and rivals. Now with this Michael Kors and Jimmy Choo collaboration fans of both brands are in for some amazing new pieces.