Jimmy Choo sells up

  • By Olo Igbindadolor

 Luxury shoes designer Jimmy Choo is selling up

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UK luxury footwear designer Jimmy Choo, founded in the East End of London and make famous by their celebrity following over the years including UK Princess, Princess Diana, is no more.

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The US retail giant Michael Kors has purchased Jimmy Choo outright for $1.2 bn USD.

Founded in the 1990s Jimmy Choo’s iconic stiletto heals have taken London, Paris, New York and Tokyo by storm in the two decades they have been around.

In 2014 Jimmy Choo floated on the stock exchange with an IPO of £1.40 per share, yesterday Jimmy Choo’s shares closed at £1.95 per share. Pre disclosure of sale Jimmy Choo was receiving a share premium of 36.5% selling to Michael Kors at £2.30 per share.

As of today:

$1 USD = £0.77 GBP

Al-Sahawat Times’ owning Media Group, The International Press and Media Group’s share price closed at: $13.06 USD

Jimmy Choo share price closed at: $2.55 USD

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