Jimmy Choo to join stock market listing
“I’ve spent $40,000 on shoes and I have no place to live? I will literally be the old woman who lived in her shoes!” – Carrie Bradshaw
Jimmy Choo is one of the luxury shoe brands raved about in the popular show Sex and the City. For years, Jimmy Choo has been a favorite of A-listers including Victoria Beckham, Jennifer Lopez and the late Princess Diana. This year, Jimmy Choo is walking toward a new direction. The luxury shoe designer which is now owned by Labelux is heading for a £1bn float in London.
According to express.co.uk:
Luxury shoe maker Jimmy Choo is set to join the growing number of companies cashing in on a fashion for stock market flotations.
Choo, owned by Vienna fashion house Labelux, is understood to be in talks with investment banks about floating a minority stake in the group later this year valuing it at about £1billion.
Labelux is the same company that holds Bally and if it floats, Jimmy Choo would follow in the steps of fellow luxury makers including Salvatore Ferragamo SpA and Brunello Cucinelli SpA (BC) in offering stock to the public.
The luxury brand started out with east London cobbler Jimmy Choo and entrepreneur Tamara Mellon in the early 1996. The label has more than 150 outlets in 32 countries and a pair costs from £200 to more than £2,000.
Do you think Jimmy Choo will do well at the stock market?