Michael Kors, Chinese in battle to buy Jimmy Choo
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Michael Kors has joined the list of known bidders for luxury shoe brand Jimmy Choo.
According to Sky News, the US brand will lodge an indicative bid for Jimmy Choo prior to next week’s deadline.
Rival US fashion label Coach has already declared its interest along with Chinese investor Hony Capital, which owns Pizza Express.
Sky News reports private equity company CVC Capital and at least one other party are also preparing bids.
Jimmy Choo was put on the market in April, by majority parent JAB Luxury. It is estimated to be worth about £800 million. JAB, which is also selling Bally, says it wants to focus on its food investments, which include Panera Bread, Caribou and Krispy Kreme Doughnuts.
Hony Capital has reportedly also entered discussions with Interparfums on a joint takeover. Interparfums owns the license to make Jimmy Choo-branded perfumes.
Questions & Answers
Q.Which other companies are interested in acquiring Jimmy Choo?
Which other companies are interested in acquiring Jimmy Choo?
Rival US fashion label Coach has already expressed interest. Private equity company CVC Capital and at least one other unnamed party are also reportedly preparing bids for the luxury shoe brand.
Q.Why is Jimmy Choo being put up for sale?
Why is Jimmy Choo being put up for sale?
Jimmy Choo's majority parent, JAB Luxury, is selling the brand as it wants to focus its investments on food companies. JAB also owns Panera Bread, Caribou, and Krispy Kreme Doughnuts.
Q.What is the estimated value of Jimmy Choo?
What is the estimated value of Jimmy Choo?
Jimmy Choo is estimated to be worth approximately £800 million. This valuation was considered when the brand was put on the market in April by its parent company.
Q.Is Hony Capital involved in any other takeover discussions related to Jimmy Choo?
Is Hony Capital involved in any other takeover discussions related to Jimmy Choo?
Hony Capital is reportedly also discussing a joint takeover with Interparfums. Interparfums currently holds the license to manufacture Jimmy Choo-branded perfumes.
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