Jimmy Choo up for grabs

jimmychooBritish luxury shoes and accessories retailer Jimmy Choo is for sale.

The brand, which bears the name of its Malaysian founder, announced Monday it is seeking offers as part of a review of strategic options to maximise shareholder value.

Listed in London, Jimmy Choo is 67.7 per cent owned by JAB Luxury, which supports the review. The company said it had not been approached by any prospective buyers as yet.

Jimmy Choo has more than 150 stores across the world and, based on Friday’s closing share price, is valued at US$840 million.

Founded by former cobbler turned couture shoe designer Jimmy Choo in 1996, in partnership with then Vogue accessories editor Tamara Mellon, it later expanded into handbags and fragrances. Choo’s niece, Sandra Choi, joined as creative director from the outset and still maintains that role.

Jimmy Choo sold his shares in the business in 2001 and in late 2006 created his own brand Jimmy Choo Couture – forced to use his name under licence from the older company. He sees clients by appointment from a tiny boutique in Connaught Street, London.

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