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Michael Kors to Buy Shoemaker Jimmy Choo for $1.2 Billion

  • ‘Sex and the City’ stiletto maker joins handbag brand
  • Deal comes amid consolidation in luxury-goods business

Michael Kors Holdings Ltd. agreed to buy Jimmy Choo Plc for about 896 million pounds ($1.2 billion), clinching the London-based maker of strappy stilettos, handbags and perfume.

The handbag maker will pay 230 pence a share for the luxury shoemaker, a premium of 18 percent over Monday’s close, the companies said Tuesday. The price is equal...


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