From Hackney to Hollywood: Our London-listed love, Jimmy Choo, has been purchased in a deal worth almost £900m, Josie Marie (belatedly so) reports. It is safe to say that the brand is no longer Great Britain’s, let alone London’s.
Many may argue that GB lost Choo in 2001 when the man himself, Malaysian-born, London-living Jimmy Choo, called it a day with his self-named company as Pheonix Equity Partners took ownership. His legacy lives on in panache handbags and crystal encrusted stilettos – is the new deal set to affect this?
Jimmy Choo is cherished and favoured for its handmade, luxury shoes – handmade being the key word here as it implies attention to detail and individuality. Naturally, luxury follows such design.
Mr Kors himself, amid the purchasing processes, described the brand as “distinctive”… we can only hope he keeps it that way.
Michael Kors has significantly decreased in relevance and value in my eyes. Once upon a time, it was a brand that I appreciated for the elegant simplicity of its pretty watches and tote bags. But the repetitive and mainstream nature that the brand embraced as it shot to major popularity after 2013 ruined the whole Kors-hype for me.
I write this as I wear my MK watch… oh! the hypocrisy.
On the contrary, Jimmy Choo modernises glamour with every collection, yet has mastered the skill of creating timeless pieces that never steer too far away from their well appreciated style.
A HEEL OF HOPE
Many would agree that Kors exhausted its individuality and became on par with high street brands among opening hundreds of global stores and thus, losing product exclusivity. It is no secret that many of these stores have been shut down. Growth and profit clearly became of predominant importance to the company, rather than authenticity and luxury.
I think I speak for a lot of people when I say that I remain hopeful Kors has learnt from past mistakes.
If that hope isn’t enough, one must remember that Jimmy Choo’s internal managerial structure shall go unchanged. Namely with Pierre Dennis staying strong as chief executive.
Time will only tell what is to happen to Choo designs.
Time will also reveal whether any pricing strategies will change. Even though I am one for a bargain, cheap Jimmy Choos are not something I want to see. Nor do I want to see 2-seasons-ago Choos in TK Maxx.
Please be kind, Time.
Josie Marie xo