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Done deal for two luxury brands

The luxury and fashion-forward footwear brand Jimmy Choo is now part of the Michael Kors company.

Michael Kors Holdings Limited said it has completed its acquisition of Jimmy Choo PLC. The $1.2 billion deal was announced in June.

“We are thrilled to have completed the acquisition of Jimmy Choo, which brings together two iconic brands to create a global fashion luxury group," said John D. Idol, chairman and CEO of Michael Kors. "We believe this combination further strengthens our future growth opportunities while also increasing both product and geographic diversification."

The acquisition of Jimmy Choo is expected to deliver a number of benefits, according to Michael Kors, including the opportunity to grow Jimmy Choo sales to $1 billion, an enhanced positioning in the growing luxury footwear segment, and the opportunity to grow in the men’s luxury footwear category.

In addition, it is expected to afford Michael Kors exposure to global markets, particularly the fast-growing market in Asia.
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