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Luxury shoemaker plc () shares surged as it agreed to be taken over by US banker Michael Kors for US$1.2bn (£896m).

, fabricated acclaimed by celebrity admirers including Princess Diana and accompanist Beyonce, put itself up for auction in April afterwards majority buyer JAB signalled its ambition to focus on customer goods.

Michael Kors, best accepted for its affordable affluence handbags, has been accretion into dresses and menswear in an accomplishment to abode crumbling same-store sales in contempo quarters.

Likewise, Jimmy Choo has apparent sales apathetic in contempo years.

Jimmy Choo will become a wholly-owned accessory of Michael Kors but will abide to accomplish as it does today beneath its absolute administration team.

“Jimmy Choo is an iconic arch affluence cast that offers characteristic footwear, handbags and added accessories,” said Michael Kors, honorary administrator and arch artistic officer.

“We adore the alluring appearance and trend-setting attributes of Jimmy Choo designs.”

Jimmy Choo began trading on the in 2014 at 140p per share.

Shares jumped16.90% to 228p in morning trading.

The aggregation was co-founded in east London by Malaysian shoemaker Jimmy Choo and

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