OHMYGOSSIP

Michael Kors Holdings Limited announces third quarter Fiscal 2018 Results: Jimmy Choo acquisition was a success

OHMYGOSSIP — Michael Kors has hailed its acquisition of Jimmy Choo as a success. The luxury fashion brand bought the British fashion house in November last year and Michael Kors – which announced a revenue increase of 6.5 per cent to $1.44 billion for the third financial quarter – is pleased with the integration of the brand, Michal Kors Holdings Limited mediates.

John D Idol, the company’s chairman and chief executive officer, explained: “We are pleased with our third quarter performance, which delivered better than expected results and saw the successful integration of Jimmy Choo into our luxury group. The Michael Kors brand continued to make progress on Runway 2020 initiatives across product innovation, brand engagement and customer experience.”

Idol explained that in spite of the deal, Jimmy Choo has continued to produce “innovative fashion luxury product offerings”.

He said: “At Jimmy Choo, we continued to deliver glamorous luxury product and engaging brand communications, which helped drive revenue during the quarter.”

Prior to the acquisition, it was hoped that Jimmy Choo would give Michael Kors a new avenue for international growth. The American brand also hoped to establish a foothold in the luxury shoe market.

At the time, Michael Kors, who is the honorary chairman and chief creative officer, said in a statement: “We admire the glamorous style and trend-setting nature of Jimmy Choo designs.”

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Jimmy ChooJohn D IdolMichael Kors

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