Michael Kors is taking a huge( and very fashionable) step forward in the industry.
The once luxurious , now ubiquitous fashion corporation announced via press release Tuesday that it would be acquiring iconic footwear and accessories brand Jimmy Choo for $1.2 billion.
So our biggest topic, of course, is: How many Jimmy Choos would THAT em> buy you ? em>
It’s funny you should ask, because while espadrilles on sale from the designer expenditure a mere $ 200, many Jimmy Choo items such as these $4,595 crystal-covered pointy toe pumps cost far more than a pretty penny.
It’s tough to get an exact estimate of how many pairs of Jimmy Choos $1.2 billion will get you, but fortunately we have Lorelai Gilmore iconic television mom and sun of Gilmore Girls to help threw things into view for us.
In a 2003 episode of the quirky television series, Lorelai’s father makes her a generous birthday present in the form of a check for $75,000. She being a dame of aspiring luxury joyfully agreed to the check and immediately equates the monetary value to 150 pairs of Jimmy Choos.
Using Lorelai’s math, a pair of the stylish stilettos cost $500, which signifies Michael Kors could have bought 2,400, 000 pairs of Jimmy Choo shoes for the cost of acquiring the company. We’ll let you do the math on how many years it would take a person to wear all of those.
As Reuters reported, Michael Kors has lost around 65 percent of its market value since 2014 due to steep rival, so perhaps buying a brand that’s graced red carpets and amazed Sex in the City em> fans will help get the company back on track.
“We admired the glamorous style and trendsetting nature of Jimmy Choo designings. We look forward to greeting Jimmy Choo to our luxury group, ” Michael Kors, Honorary Chairman and Chief Creative Officer of Michael Kors, said in the release.
So does Lorelai, Michael. So does Lorelai.