- Michael Kors (KORS) agrees to acquire Jimmy Choo (OTC:JYMHF) for $1.2B. The company expects to grow Jimmy Choo sales to $1B a year and create long-term operational synergies with the MK business.
- The deal follows a move earlier this year by luxury rival Coach (COH) to snap up Kate Spade.
- Shares of Michael Kors are down 19% YTD.
Michael Kors acquires Jimmy Choo
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