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Thursday 22 February 2018

Luxury shoe designer Jimmy Choo 'in stock market talks'

Shoe designer Jimmy Choo. A massive haul of fake Jimmy Choo shoes was found in Cork
Shoe designer Jimmy Choo. A massive haul of fake Jimmy Choo shoes was found in Cork

Luxury shoe designer Jimmy Choo is reportedly in talks over a potential £1bn stock market debut as flotation fever shows no sign of ending.

Owners of the group - famous for its stilettos and celebrity following - have held talks with investment banks in recent weeks over plans for a listing later this year, according to The Sunday Times.

Vienna fashion house Labelux, which bought Jimmy Choo in 2011 for £525m, is understood to want to float a minority stake, although the discussions are said to be in the very early stages.

Jimmy Choo has changed hands four times in 15 years.

It traces its roots back to skilled Malaysian cobbler Jimmy Choo, based in east London in the early 1990s.

But the company officially launched in 1996 after Mr Choo and his niece Sandra Choi teamed up with former Vogue fashion editor Tamara Mellon, who helped propel it into a global luxury fashion brand.

Jimmy Choo now has more than 150 outlets in 32 countries and a string of celebrity fans, from Victoria Beckham and Jennifer Lopez to Samantha Cameron.

Mr Choo left the company in 2001, while Ms Mellon quit in 2011 after the Labelux takeover and sold her remaining stake for £82.5m.

Labelux was not immediately available for comment, but told The Sunday Times "we regularly review the status of our investments".

It added: "No decision has been taken."

The flotation would mark the latest in a string of stock market listings, with a raft of retailers going public in recent weeks, including Poundland, Pets at Home and Manchester-based online fashion retailer

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