Sep 19, 2018 | By Petah Marian
Coach and Jimmy Choo, the ultimate luxury fashion collab? Maybe, according to unnamed sources New York fashion house Coach has edged ahead in the the race to buy Jimmy Choo in a deal worth up to £1bn.
Various UK newspapers reported those sources saying the up-for-sale UK fashion brand is Coach’s prime target following a stalled attempt to buy Kate Spade and last year’s failed £20bn bid for Burberry.
They noted Coach chief executive Joshua Schulman is a former boss of Jimmy Choo and gives the company an advantage over rival suitors.
Neither Jimmy Choo nor Coach could be reached for comment.
Jimmy Choo majority owner JAB Holdings, the investment vehicle of the German Reimann family, made the surprise announcement last week to sell its interests in luxury retail, also including Swiss brand Bally and possibly UK outdoor fashion brand Belstaff, towards consumer products such as coffee and doughnuts.
Jimmy Choo’s revenues soared 15% to £364m last year while earnings rose 16% to £59m.
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