Luxury shoe producer Jimmy Choo is interested in going to the stock exchange to get additional funds to speed up its Asian expansion. The company would be valued at 1.2 billion euro.
Funds for increased Asian expansion
Jimmy Choo has 150 stores in 32 countries, but wants to expand into Asia even more in the next few years as the sale of luxury products is on the rise over there. Ever since Labelux purchased the company in 2011, its growth has been an astonishing 30 % per year.
The Sunday Times believes Labelux has appointed Credit Suisse and Deutsche Bank to accompany an IPO, which is meant to attract new investors who will get a minority stake in the company if they invest.
Currently, the German Reimann family owns Jimmy Choo through its Joh. A Benckiser and Labelux holdings. It bought the brand in 2011 for 525 million pounds (now some 630 million euro) from Malaysian founder Jimmy Choo and British entrepreneur Tamara Mellon. Its shoes are in the 200 to 2,500 euro range.