Michael Kors expects its newest acquisition to give it a stronger hold in the luxury sector.
The brand, which built its reputation on lines of high-end apparel, handbags, shoes and fashion accessories, has acquired luxury shoemaker Jimmy Choo for approximately $1.350 billion. The transaction, which is expected to close in the fourth quarter of 2017, has been approved by the boards of directors of both Michael Kors and Jimmy Choo.
