Jimmy Choo puts itself up for sale
Luxury footwear brand Jimmy Choo has announced that it is seeking offers for the business as part of a review of strategic options to maximise value for shareholders.
In a statement, the company said its majority shareholder, JAB Luxury, is supportive of the process.
It also said the UK’s Takeover Panel has agreed that any discussions with third parties may be conducted within the context of a “formal sale process” to enable conversations with parties interested in making a proposal to take place on a confidential basis.
However, Jimmy Choo added that it is not currently in receipt of any approaches..
Jimmy Choo was founded in 1996 by couture shoe designer Jimmy Choo and Tamara Mellon who later sold their shares. The company’s current chief executive is Pierre Denis, a former LVMH executive.
Private equity firm JAB Luxury holds 67.66% of Jimmy Choo’s issued share capital.
