Michael Kors Buys Jimmy Choo For $1.2 Billion
Image by Getty Images
As the rapper Ludacris sings in “My Chick Bad”, “Jimmy Choo fetish keep me fresh like lettuce.” Now fashion designer Michael Kors will be rich as romaine—the upscale fashion company bought the luxury shoe and accessory brand Jimmy Choo for a reported $1.2 billion today.
Jimmy Choo, which has become synonymous with extravagance thanks to rap lyrics and the famous feet of Hollywood, is apparently expected to rejuvenate flailing sales at Michael Kors.
With increasing competition from online shopping and mass retailers, Michael Kors sales have dropped, resulting in the projected closing of 100-125 stores and the loss of a third of the stock’s value. The acquisition of the ultra-luxe Jimmy Choo brand is expected to help Michael Kors Holdings put its best foot forward.
The words “Jimmy Choo”, a brand once favored by Princess Diana, are as commonplace in a rap song as an expletive, notably in the song “Jimmy Choo” by rapper Fetty Wap, where the brand’s name is repeated 11 times.
Perhaps this time next year Ludacris will have dropped a remix with lyrics changed to “My b***h, I buy her Michael Kors, damn.”
Jenny Singer is a writer for the Forward. You can reach her at [email protected] or on Twitter @jeanvaljenny.
This is a moment of great uncertainty. Here’s what you can do about it.
We hope you appreciated this article. Before you go, we’d like to ask you to please support the Forward’s independent Jewish news this Passover. All donations are being matched by the Forward Board - up to $100,000.
This is a moment of great uncertainty for the news media, for the Jewish people, and for our sacred democracy. It is a time of confusion and declining trust in public institutions. An era in which we need humans to report facts, conduct investigations that hold power to account, tell stories that matter and share honest discourse on all that divides us.
With no paywall or subscriptions, the Forward is entirely supported by readers like you. Every dollar you give this Passover is invested in the future of the Forward — and telling the American Jewish story fully and fairly.
The Forward doesn’t rely on funding from institutions like governments or your local Jewish federation. There are thousands of readers like you who give us $18 or $36 or $100 each month or year.
Support our mission to tell the Jewish story fully and fairly.
