Jimmy Choo Puts Itself Up For Sale

Jimmy Choo Puts Itself Up For Sale

Jimmy Choo announced it has decided to conduct a review of the various strategic options open to the luxury brand to maximise value for its shareholders, and has put itself up for sale, according to a company press release. There are no offers yet, the company said, though it is expected to attract buyers from the US as well as from the Middle East, China and Russia.

The company discussed the strategic review process with its majority shareholder, JAB Luxury, which has confirmed its support of the process. JAB, an investment company run by German billionaire family Reimann, owns 68% of Jimmy Choo.

The luxury shoe and accessories retailer, which runs 150 stores worldwide, was founded in London in 1996 by Malaysian fashion designer Jimmy Choo and the then-Vogue accessories editor Tamara Mellon, according to the report. Both Choo and Mellon have since left the company, which is now run by CEO Pierre Denis and Creative Director Sandra Choi.

Women's shoes remain the core of the product offer, alongside handbags, small leather goods, scarves, sunglasses, eyewear, belts and fragrances. Yet sales have been sluggish of late, as the waning post-Brexit pound dampened demand in Europe.

High-end luxury retailers like Burberry and Kate Spade have also felt the pinch; Kate Spade is said to also be for sale, with comeback accessories retailer Coach the most likely bidder for that brand.