A future $1.66 billion IPO for Jimmy Choo?
An offer that's keeping the company on its toes
Fashion's Labelux group - founded by the German billionaire, Reimann family - could be looking to sell a share of Jimmy Choo which is valued at more than $1.66 billion.
Labelux has apparently met with investment bankers over the past months to discuss the idea of a partial IPO, with discussions still in its early stages.
Labelux would still retain a majority stake in the business and use a sale to help expand its business in Asia - where sales are rising.
According to a source, "Labelux has a long-term vision and development plan for Jimmy Choo and has no intention of giving up control of the company. If there is any listing at all, it will be a minority one. The company has been expanding over the past three years, and it's a very normal process to discuss the next steps to accelerate growth. The reality is that anything can happen in this climate: There is a financial bubble that favors IPOs now, but anything can happen to change that. Look at what is happening in Ukraine."
Labelux acquired Jimmy Choo in 2011 for around $889.4 million from Tamara Mellon - who founded Choo with the shoemaker of the same name in 1996 - since the sale Mellon has launched an eponymous lifestyle brand.
Other luxury brands such as Versace, Marni and Balmain have also been the subject of IPO rumours, while labels including Michael Kors, Moncler and Vince now proving to be success stories of fashion IPOs.