MICHAEL’S SEXY SHOES

Prestige Indonesia - - Agenda -

“Is it wise to run in Jimmy Choos? Michael Kors is go­ing to try,” quipped The New

York Times in re­sponse to the US$1.2 bil­lion deal that stunned the fash­ion world in July.

The ac­qui­si­tion is Kors’ lat­est move to ex­pand his port­fo­lio and strengthen his brand’s po­si­tion in the lux­ury mar­ket. Jimmy Choo was launched in 1996 by Bri­tish Vogue ed­i­tor Ta­mara Mel­lon and de­signer Jimmy Choo. High-pro­file clients of its sexy stilet­tos in­cluded the late Princess Diana and the fic­tional Car­rie Brad­shaw of Sex and the City fame.

Said Forbes: “The ac­qui­si­tion will give Michael Kors a new av­enue for in­ter­na­tional growth and a foothold in the lux­ury shoe mar­ket. ‘We ad­mire the glam­orous style and trend-set­ting na­ture of Jimmy Choo de­signs,’ said Michael Kors, hon­orary Chair­man and Chief Cre­ative Of­fi­cer, in a state­ment.

Reuters re­ported: “Jimmy Choo will help Kors ex­pand its footwear port­fo­lio to 17 per­cent of to­tal sales from 11 per­cent, Kors said on a con­fer­ence call. The shoe­maker has the po­ten­tial of rak­ing in US$1 bil­lion in sales an­nu­ally as it opens more stores in Asia, es­pe­cially China, Kors Chief Ex­ec­u­tive John Idol said.”

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