Jimmy Choo to put its best foot foward for float
LUXURY shoe brand Jimmy Choo is hoping its fortunes will take a step up as it announced plans yesterday to float on the London Stock Exchange next month.
It has been estimated that the Jimmy Choo listing could value the high fashion shoe brand chain at above £700m.
Jimmy Choo has put forward a growth strategy to attract investors, including a focus on growth in the luxury market in Asia, and plans to continue store opening at a rate of 10 to 15 a year.
Jimmy Choo now has 120 directly operated stores around the world, and last week opened its expanded New Bond Street store.
The Jimmy Choo brand was founded by Malaysian shoe designer Jimmy Choo and former Vogue accessories editor Tamara Mellon, with the first store opening in London in 1996.
In 2011 Jimmy Choo was acquired by current owner investment firm JAB Holdings for over £500m.
Pierre Denis, chief executive of Jimmy Choo said: “Jimmy Choo is an outstanding business operating in one of the fastest growing segments of the luxury market.
“The results speak for themselves through Jimmy Choo’s strong continued top line growth, progressive margins and cash generation.”, he added.
Jimmy Choo had total sales of £282m last year, and revenues of £150.2m in the first half of 2014.
Jimmy Choo shoes have featured in TV series including Sex and the City, and Korean drama My Love from the Star.