The king has spoken: Jimmy Choo to sell company to highest bidder

Published April 24th, 2017 - 02:16 GMT
The fashion footwear brand saw double-digit growth in Asia in 2016. (Facebook)
The fashion footwear brand saw double-digit growth in Asia in 2016. (Facebook)

The stock price of luxury shoe maker Jimmy Choo Ltd. rose 10 percent in Monday trading after the company announced it is for sale.

The British fashion brand, a preference of Sex and the City character Carrie Bradshaw, announced Monday that it was considering a sale "to maximize value for its shareholders." It added no buyers have yet come forward.

Read more: Bebe Is Closing Down: Fashion Brand To Close All Stores, Focus On Online Sales

The company's largest current shareholder is JAB Holdings, with a 68 percent stake in the company. JAB, which also owns the French perfume maker Coty and several other luxury and fashion brands, is supportive of a sale, Jimmy Choo Ltd. said.

The company recently included menswear and other accessories in their product mix.

Jimmy Choo Ltd. sales fell in the United States in 2016 but saw double-digit growth in Asia, particularly in China.

By Ed Adamczyk


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