Michael Kors to acquire Jimmy Choo in $1.35bn deal
Michael Kors has reached an agreement with Jimmy Choo to acquire the luxury footwear and accessories company in a deal with an enterprise value of $1.35bn.
The US retail giant is to pay 230 pence per share for its British rival with the stated objective of growing Jimmy Choo’s sales to $1bn.
Jimmy Choo was made available for sale in April after its holding company JAB made clear its intentions to focus on the consumer rather than the luxury market.
Michael Kors will now operate it as a subsidiary, with its Chairman and CEO John Idol hailing his company’s new acquisition as a ‘leader’ in the industry.
“We are pleased to announce the acquisition of Jimmy Choo, an iconic brand with a rich history as a leading global luxury house,” he said.
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“Jimmy Choo is known worldwide for its glamorous and fashion-forward footwear. The company is a leader in setting fashion trends.
“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.”
Jimmy Choo has a global presence with 150 company-owned retail stores, 560 multi-brand doors and more than 60 franchise stories around the world.
The brand grew its reputation through associations with the famous faces like the Duchess of Cambridge, Emma Stone and Beyonce.
“We look forward to working closely with the leadership and team at Michael Kors Holdings Limited to further develop our iconic brand,” added Pierre Denis, Chief Executive Officer of Jimmy Choo.
“Our two companies share the same vision of style and trend leadership. Our luxury heritage is the foundation of Jimmy Choo and we will continue to bring our brand vision to consumers globally.”
Health Catalyst: An agile approach to healthcare data
Healthcare Catalyst is quite literally a healthcare providers’ catalyst for change when it comes to their measurable, data-informed improvement in analytics, software and services.
Founded in 2008 in Salt Lake City, Utah, Health Catalyst is dedicated to enabling health care organisations to build a healthcare-specific, open, flexible, and scalable data platform and fully integrated suite of analytics applications.
This enables health system partners, including Northwell Health in New York which serves a population of 11 million, to realise measurable value within months. “Our customers have recognised the potential to use data, to meaningfully improve their clinical, financial and operational business performance outcomes,” said Mike Doyle, Chief Customer Officer.
Formed by a group of healthcare veterans – with a quest to develop a data warehouse that could handle the complexities unique to healthcare data – they revolutionised the clinical process models and use of analytics and discovered the solution now known as Adaptive Data Architecture, which is agile, flexible and can be implemented in a matter of weeks compared to a matter of years.
Today, Health Catalyst helps clinicians in more than 250 hospitals that care for more than 100 million patients each year.
Health Catalyst offers a solution in three parts:
Data Operating System
Cloud-based DOS is a healthcare-specific, open, flexible, and scalable that provides customers a single environment to integrate and organise data.
Analytics applications build on top of the data platform and allow customers to make measurable clinical, financial and operational improvements.
World-class team of analytics and domain experts leverage technology to help customers shorten time-to-value and achieve sustainable, measurable improvements.
The fully integrated data platform and suite of analytics applications helped clients during the pandemic, in ways even Health Catalyst could never have imagined. Health Catalyst offered products and services to support customers’ agile response to the pandemic in four phases:
“By having the data operating system, our clients were able to take advantage of the integrated source of data to meet challenges that they were facing in their local geographies due to the pandemic in ways that we could never even have predicted,” said Doyle.
Doyle highlighted Health Catalyst’s Value Architecture group, which helps the company ensure that its technology and expertise are delivering measurable and meaningful value to our clients. “I think another key differentiator is our open platform that our clients are able to use to accelerate their own integration of data, but it is customisable, configurable in ways that makes it unique for them in ways other cookie cutter analytics just can’t match.
“We like to start every discussion by listening and understanding how we can help our customers avoid making mistakes and getting the most out of their investment in data.”
Speaking about their partnership with Northwell, Doyle said: “We're very grateful for this partnership and want to thank these visionary leaders who are able to envision a future using data that is light years beyond what we can think of today.”