Jul 25, 2017 | By WGSN Insider
Apr 24, 2017
By WGSN Insider
Is one of Carrie Bradshaw’s favourite footwear lines up for sale?
Yes, Jimmy Choo is looking for a buyer after the luxury fashion retailer said Monday it decided to conduct a review of the various strategic options, “seeking offers” for the company.
Jimmy Choo said it has discussed the process with its 67.66% majority shareholder, Jab Luxury, who is supporting the process.
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, a statement read, with Jimmy Choo adding it has yet to receive any approaches.
There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made, it stressed.
The surprise announcement comes after the company has reported a series of strong results that have seen its share price rising fast in the past year. Monday morning its shares were trading 8.9% higher at 180p.
Jimmy Choo the company was born in 1996, a partnership between Malaysian shoemaker Jimmy Choo and former Vogue journalist Tamara Mellon. The company went on to garner praise in the media, and become a hugely in demand footwear brand, thanks to TV mentions in popular shows like Sex and the City, as well as being the popular shoe of choice at the Oscars. After building success as a womenswear footwear line, the company also introduced menswear and accessories.
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