Under the terms of the deal, Jimmy Choo shareholders will receive 230p per share, with Michael Kors chairman and chief executive John Idol adding “we believe that Jimmy Choo is poised for meaningful growth in the future and our company is committed to supporting the strong brand equity that Jimmy Choo has built over the last 20 years.” The expectation is for Jimmy Choo to aid in creating a more balanced portfolio, enhanced positioning in the growing luxury footwear segment and greater exposure to global markets. Michael Kors also sees the deal as an opportunity to grow Jimmy Choo sales to $1 billion and expand further into the men’s luxury footwear market and luxury accessories market.