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Jimmy Choo shareholders approve Michael Kors takeover

Reuters - UK Focus

Sept 18 (Reuters) - Luxury shoemaker Jimmy Choo Plc (LSE: CHOO.L - news) on Monday said its shareholders voted in favour of a $1.2 billion takeover by fashion group Michael Kors Holdings Ltd .

Almost all of the around 318 million votes cast at Jimmy Choo's general shareholder meeting were in favour of the deal.

Michael Kors (Swiss: KORS.SW - news) agreed to buy Jimmy Choo in July. The British shoe company, famous for its stiletto styles, last month reported a near tripling in half-year profits.

The deal comes months after rival fashion company Coach struck a deal to buy quirky fashion brand Kate Spade & Co, a sign that so-called affordable luxury companies are having to look to new markets and customer bases to boost flagging sales.

(Reporting by Sanjeeban Sarkar in Bengaluru. Editing by Jane Merriman)