Listen to this article
The fashion brand Jimmy Choo has put itself up for sale as part of a “strategic review of the company”.
The group said in a statement that “it has decided to conduct a review of the various strategic options open to the Company to maximise value for its shareholders and it is seeking offers for the Company.”
Jimmy Choo said JAB Luxury, a private company based in Germany that owns 70 per cent of the shares, “has confirmed that it is supportive of the [sale] process”.
The company’s staff own a further 3 per cent of the shares and the sovereign wealth funds of Singapore and Kuwait own 2.7 and 2.5 per cent respectively.
Jimmy Choo said it had not yet received any approaches from people potentially interested in buying it.
Last month Jimmy Choo said sales rose 1.6 per cent in 2016 once currency effects were excluded, with growth in China being offset by difficult trading in the US and Europe. Including the effects of the strong pound, sales were £364m, a 15 per cent rise.
The company’s shares have risen 25 per cent over the past year, valuing the company at £682m.
Get alerts on Jimmy Choo PLC when a new story is published