Michael And Jimmy: A Budding Courtship In High-End Fashion?

After losing the heart of Kate Spade to a more attractive Coach Inc COH earlier this year, Michael Kors Holdings Ltd KORS has continued its search for a partner.

Now, it’s found a new object of interest.

The luxury apparel and accessories maker is reportedly considering a bid for Jimmy Choo PLC, according to a July 15 report from Australia’s Sky News.

Michael Kors was unavailable for comment, but if the rumors prove true, the firm faces competition from CVC Capital Partners and the Chinese private equity firm, Hony Capital. The latter is allegedly in talks with Interparfums, the licensed manufacturer of Jimmy Choo perfumes, to make a joint offer.

JAB Holding Company, which owns 70 percent of Jimmy Choo, put the fashion line up for sale in April in an effort to concentrate on its expanding food and coffee portfolio.

Does The Shoe Fit?

Michael Kors has been struggling lately, having posted misses in both earnings per share and sales last quarter. Under enduring market pressure, the firm expects to close between 100 and 125 full-price retail stores over the next two years.

Deutsche Bank analysts recently attributed its struggles to a lack of differentiation in its accessories and overexposure in its home market. They expect expansion in the Asian markets and growth in footwear, a point of strength for Jimmy Choo, to improve performance.

Jimmy Choo has about 140 stores worldwide selling its collection of handbags, scarves, eyewear, belts and fragrances. It has traded on the London Stock Exchange since 2014 and has a market cap of about $997 million.

Related Links:

At Least 1 Pro Thinks Michael Kors Needs To ‘Step Up Its Game’

Coach Could Become A ‘House Of Modern Luxury’

Image: By SPERA.de Designerschuhe, Taschen und Accessoires from Deutschland [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons