£896m Jimmy Choo deal may not be a shoe-in

New York-based handbag maker Michael Kors has agreed to buy Jimmy Choo for about £896m as it seeks to restore lost lustre by adding the shoe brand brought to prominence by the television series “Sex and the City”.

The purchase of Jimmy Choo, Michael Kors’ first deal to expand beyond its own brand name since it floated in 2011, gives the fashion and accessories company a presence in higher-end luxury.

London-based Jimmy Choo ...