"Pierre Denis will continue in his role as Chief Executive Officer of Jimmy Choo". Michael Kors competes in the very competitive affordable luxury retail segment.
Additionally, the USA retailer has also explained that the said offer is "final and will not be increased" unless another party makes an offer. Michael Kors' shares sank more than 4 percent, as some on Wall Street anxious the deal may add to the retailer's own struggles of late.
Jimmy Choo shares were up 16.79% in the first hour of trading at 227.75 pence in London. Michael Kors expects the transaction to close during fourth-quarter 2017.
The news comes less than three months after Coach (coh) announced its $2.4 billion deal to buyKateSpade, a purchase that closed recently, and shows how urgently companies that rode the big handbag boom of a few years ago need to find new sources of growth.
One of America's best-known fashion retailers has agreed to take over luxury shoe brand Jimmy Choo in an £896m deal, reportsSky News.
Jimmy Choo was made available for sale in April after its holding company JAB made clear its intentions to focus on the consumer rather than the luxury market.
Shares in Michael Kors fell 1.37% to US$34.43 in U.S. pre-market trading.
"A combination with Michael Kors will allow Jimmy Choo to embark on its next phase of growth and provide opportunities for the benefit of Jimmy Choo customers, employees, shareholders and other stakeholders", Peter Harf, the Jimmy Choo chairman, said in a news release.
Goldman Sachs and JPMorgan acted for Michael Kors on the deal, while Merrill Lynch, Citigroup, Liberum and RBC Europe represented Jimmy Choo.
Jimmy Choo has about 150 company-operated retail stores, 560 multi-brand locations and over 60 franchise stores in premier locations worldwide. "We look forward to welcoming Jimmy Choo to our luxury group".
In Overcooked , chefs are tasked with chaotically preparing and serving meals in all sorts of different environments. Last year's smash hit cooperative cooking game Overcooked is coming to Nintendo Switch later this week.
The program did include a real great white swimming in the 100-metre stretch behind a decoy of swimming seals. Phelps had prepared for the race by diving in a cage and coming face-to-face with real sharks.
Pictured, Jacqueline Sanchez Estrada who was killed at the hands of her sister, Obdulia Sanchez during a fatal auto crash. Relatives confirmed to KFSN-TV that Obdulia Sanchez was livestreaming on Instagram before, during and after the crash.
He leveraged the advantage he had being the chip leader and slowly watched the competition get eliminated one person at a time. Blumstein took a few seconds then bet 3 million , then Hesp waited just a little longer before announcing a raise.
However, a report in Hindustan Times said that the jail in Badush was in ruins and there was no sign of the Indians. It has been three years since the Islamic State abducted 39 Indian labourers from Mosul city in Iraq.
International Monetary Fund maintained its world economic growth forecast at 3.5 per cent for 2017 and 3.6 per cent for 2018. Markets surged to trade on record high on today's trade but Nifty failed to trade in the historic 10,000 level.
The court heard that Charlie has suffered extensive muscular atrophy, which they say is now "irreversible". Armstrong said the pair now wanted "to spend the maximum amount of time they have left with Charlie".
The tap-in was a formality, and the tens of thousands of people who had poured into this magnificent venue had seen history made. But after 31 rounds in majors of 63 - the most recent by Justin Thomas at the US Open - the hoodoo has finally been lifted.