Major news just came off the fashion presses on Tuesday.\u00a0<\/p>\n
Michael Kors Holdings Ltd. just announced that it plans\u00a0to purchase luxury shoe and accessories brand\u00a0Jimmy Choo\u00a0for a\u00a0whopping $1.2 billion. Kors will shell out 230 pence a share in the deal, which was officially approved by both companies’ boards, as reported in a statement to Business of Fashion<\/em>.\u00a0That’s a whole lot of strappy sandals and pony hair pumps!<\/p>\n<\/p>\n<\/p>\n Jimmy Choo has won over fans that\u00a0range from fictional fashionistas, such as\u00a0Carrie Bradshaw, who lost her suede and\u00a0feather platforms while running to the Staten Island Ferry in Sex and the City<\/em>,\u00a0to IRL style icons, like Princess Diana and Kate Middleton. The\u00a0news of the deal\u00a0furthers the\u00a0trend of consolidation in the industry, as Coach Inc. agreed to buy\u00a0its rival Kate Spade & Co earlier this year.<\/p>\n<\/p>\n RELATED: Here’s Dakota Fanning’s Ethereal Spring Fashion Shoot for Jimmy Choo<\/strong><\/p>\n With NYFW\u00a0only a couple of months\u00a0away, we expect to her a few more rumblings in the fashion world before the end of\u00a02017.<\/p>\n<\/p>\n<\/p>\n