Michael Kors Reportedly Readying Jimmy Choo Bid

by MR Magazine Staff

Michael Kors is preparing a bid for rival Jimmy Choo, Australian media outlet Sky News reports. Luxembourg-based CVC Capital Partners and another, unnamed party is also said to be interested in the upscale footwear and accessories brand, according to the report. Hony Capital, a Chinese private equity firm that owns international restaurant company PizzaExpress, is interested in Jimmy Choo’s fragrance business and is prepping a joint bid with Interparfums, which already holds the licenses for the brand’s fragrances, unnamed sources told Sky News. In April, Jimmy Choo’s majority shareholder, JAB Luxury, an investment company run by German billionaire family Reimann, confirmed that the brand had put itself up for sale. Read more at Retail Dive.