"We are pleased to announce the acquisition of Jimmy Choo, an iconic brand with a rich history as a leading global luxury house. Jimmy Choo is known worldwide for its glamorous and fashion-forward footwear," John Idol, chairman and chief executive officer of Michael Kors, said in a statement, Vogue Paris reported. "The company is a leader in setting fashion trends. Its innovative designs and exceptional craftsmanship resonate with trendsetters globally. We believe that Jimmy Choo is poised for meaningful growth in the future and our company is committed to supporting the strong brand equity that Jimmy Choo has built over the last 20 years."
Forbes reported that a pair of Jimmy Choo stilletos typically cost more than $1,000. Famous fans of the brand include Sarah Jessica Parker, Beyonce and Jennifer Lopez.