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.
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
Copyright © UPI, 2019. All Rights Reserved.