July 25, 2017 @ 7:45 AM
Major news just came off the fashion presses on Tuesday.
Michael Kors Holdings Ltd. just announced that it plans to purchase luxury shoe and accessories brand Jimmy Choo for a whopping $1.2 billion. Kors will shell out 230 pence a share in the deal, which was officially approved by both companies' boards, as reported in a statement to Business of Fashion. That's a whole lot of strappy sandals and pony hair pumps!
Jimmy Choo has won over fans that range from fictional fashionistas, such as Carrie Bradshaw, who lost her suede and feather platforms while running to the Staten Island Ferry in Sex and the City, to IRL style icons, like Princess Diana and Kate Middleton. The news of the deal furthers the trend of consolidation in the industry, as Coach Inc. agreed to buy its rival Kate Spade & Co earlier this year.
RELATED: Here's Dakota Fanning's Ethereal Spring Fashion Shoot for Jimmy Choo
With NYFW only a couple of months away, we expect to her a few more rumblings in the fashion world before the end of 2017.
[MUSIC] This event is a, an unusual event because we're really bringing people into Neiman Marcus here in Beverly Hills which, you know, this store, I kinda know it like the back of my hand. You know, I'm Eloise at the Plaza here at Neiman's in Beverly Hills. We're putting the spring show on here in the store. It's, you know, bringing in a wonderful group of ladies, actresses, and, and socialites, and, and women who are clients also, who aren't that well known, and to really see the clothes and, and to support Step Up, which is really an amazing organization. How could you pass up a designer Michael Kors event on the third floor of Neiman's? Gena Davis is joining us and Anjelica Huston. But I just told him, he's sort of the, the natural inheritor of, of Halston. He really designed for the American woman, and I think that's what Michael Kors says today. He's the only designer that I can put on off the rack, and it fits. Like the sleeves, I, I'm always like, oh my God, the sleeves are long enough, and the waist is in the right place. Angie Harmon who, you know, I've known forever. Well that was Michael's mommy, who I've just, I've known for years, and I love her. And of course, my mom lives in LA, so, it's kinda home, homecoming also. Me and my struggle I think is really a great beauty and a great talent and a, and a fun date. And Jane has [UNKNOWN] so heavily involved, I think, here in Los Angeles in a lot of charity, which is kinda great. She's got a sense of humor and a heart. It's the best of both. With Clothes Off Our Back, my foundation, Michael Kors is one of the, the celebrities in this town who really gets it. We've had a lovely relationship over the years, so I was very happy to come here today and wear a great dress that he lent me, and be with him today to look at this new show. The decor is really, you know, it's kind of the world of creamy, creamy Michael Kors fabulous camels and beiges, so we wanted to kind of recreate the New York showroom here. I'm never without my aviator sunglasses. I think automatically, you put on your aviators, and you feel glamorous, and Leg Shine, which is kind of the secret weapon of every woman I know. I'm wearing my Blahniks. This season, the show is my homage to a lot of it to dancers, the whole idea of dance returning to pop culture. So you'll see a lot of chiffon, and a lot of jersey. A lot of things that are soft, leggy, and definitely playing off with all the nude tones that you would see in the dancer's wardrobe. Fashion shows and things like this, people get to have fun, get to feel indulgent, but get to give at the same time, which is a nice combo. [MUSIC]