ICR is handling Michael Kors Holdings' $1.4B deal to acquire Jimmy Choo PLC, the high-end footwear brand noted for its signature $3,000 sky-high stilettos.

Discounting and the fall in mall traffic have hurt MKH, which distributes its fashion-forward designs in department stores and outlets.

JC provides an opportunity to grab higher-end customers and bigger profit margins.

Jimmy Choo

John Idol, CEO of MKH, called JC "an iconic brand with a rich history as a leading global luxury house."

He welcomed CEO Pierre Denis to MKH's luxury group, noting that JC achieved 11 percent compounded growth annually since 2012 under his guidance.

Idol also praised JC creative director Sandra Choi for her "groundbreaking fashion vision and fashion artistry."

JC operates 150 retail shops and markets shoes plus handbags, scarves, sunglasses and belts. It is stepping up its presence in the men's shoe market.

ICR's Jean Fontana and Alecia Pulman are handling MKH's acquisition.