After buying Jimmy Choo, the Michael Kors group is not going to stop. Group CEO John D Idol, on Wednesday at Morgan Stanley Global Consumer and retail conference, said he was actively looking for new buyers. He emphasized that he would prefer to buy mature and potential brands, but did not disclose specific details.
In July this year, Michael Kors Group acquired the British luxury footwear brand Jimmy Choo for $1 billion 200 million, the transaction has been completed by the end of October, Jimmy Choo has been delisted, now officially classified as Michael Kors group. Analysts say the Michael Kors group bought Jimmy Choo, indicating the group’s determination to enter a multi – luxury brand group. A well-informed New York fashion industry yesterday revealed to fashion headlines that Michael Kors is trying to emulate the Coach mode of competitors, changing the group name, but it is still at a preliminary stage of discussion, and has not yet finalized the practice.
The Michael Kors group was listed on the New York stock exchange in December 15, 2012 with a stock code of KORS. The IPO raised $1 billion 100 million.