Shoe fits in $1.2B deal

THESE SHOES were made for walking … all the way to the bank.

Fashion brand Michael Kors will buy high-end shoemaker Jimmy Choo for $1.2 billion, the companies announced Tuesday.

Both fashion houses are popular on the red carpet, but the acquisition of the British-based Choo and its luxury shoe line — which counts celebs like Jennifer Lopez, Michelle Obama and Beyoncé as fans — could give the struggling Michael Kors brand a needed boost, analysts said.

New York-based retailer Kors downgraded its sales forecasts in May for the rest of the year and said it would close about 125 stores. The company’s share price lost 20% of its value this year.

The acquisition is expected to help raise the online presence of Jimmy Choo, which saw its stock price soar 17% Tuesday, to $228.25.

Michael Kors rose less than 1%, to $34.93.