After months of rumours, a confirmation has finally arrived: the Jimmy Choo luxury footwear brand was bought by Michael Kors for 896 million pounds (around one billion euro). The bid made by this company based in the United States was superior to other bids made by competitors Interperfumes and Cvc Capital Partner: under the terms of the transaction, Jimmy Choo shareholders will receive 230 pence per share.

With the acquisition of the Jimmy Choo brand, Micheal Kors has set itself two goals: the diversification of the offer on a new market segment (while Michael Kors is currently undergoing a restructuring that will see around 120 of its stores closed…) and countering the offer of its competitor Coach, which recently acquired the Kate Spade brand.