Michael Kors Is Buying Jimmy Choo For $1.2 Billion

U.S. retailer Michael Kors agreed to buy luxury shoemaker Jimmy Choo for $1.2 billion, snapping up a British company whose towering stilettos have been made famous by celebrity customers from Princess Diana to Kendall Jenner. Jimmy Choo was started in 1996 by British Vogue editor Tamara Mellon and designer Jimmy Choo. Michael Kors said in a statement, “We admire the glamorous style and trend-setting nature of Jimmy Choo designs.”