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07.11.2017 | Степан Максимов

Michael Kors completes Jimmy Choo acquisition

Michael Kors Holdings Limited, a global luxury fashion brand, has announced the successful completion of the acquisition of Jimmy Choo PLC, a premium luxury clothing and accessories brand. Under the terms of the deal, the shareholders of Jimmy Choo will receive 230 pence per share, the value of the company itself is about 1 350 billion US dollars.

 

«We are pleased to announce the acquisition of Jimmy Choo, the world's leading luxury brand with a rich history. Jimmy Choo is known all over the world for his glamorous and trendy shoes. We believe that Jimmy Choo is ready for significant growth in the future, and our company is committed to supporting the strong brand that Jimmy Choo has been building for the last 20 years," commented Chairman and CEO of Michael Kors, John D. Idol.

 

 

The acquisition of the brand will increase sales of Jimmy Choo to $ 1 billion and strengthen the position of Michael Kors in the growing segment of luxury footwear. The company plans to further expand the offer of luxury accessories and have a wider impact on global markets, especially on the fast-growing market in Asia.

 

As previously announced, the acquisition was financed with credit funds, the issue of priority unsecured shares with a weighted average interest rate of 3.1% and cash.

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