Michael Kors, Chinese in battle to buy Jimmy Choo
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.