Source: Roberto Machado Noa / Getty
Bag and accessories brand Michael Kors is buying high-profile luxury shoemaker Jimmy Choo in a deal worth $1.35 billion. Michael Kors has struggled recently, announcing earlier this year that it would close up to 125 stores because of week sales.
The company called Jimmy Choo an “ideal partner,” and said its online presence will be bolstered as a result of the deal.
Source: Spencer Platt / Getty
