Jimmy Choo steps towards £1bn flotation as London markets fly
THE OWNER of luxury shoe designer Jimmy Choo is mulling plans for a £1bn public listing in London to tap the capital’s booming stock market.
Bankers are understood to have approached its owners, Labelux, to explore plans to find external capital for the firm’s aggressive expansion plans, with an offering of about 20 per cent of the company on the table.
Labelux, which also owns other high end brands Belstaff and Zagliani, is one third of a conglomerate owned by German investment firm Joh A Benckiser.
“Jimmy Choo is a clear success story with strong momentum and we regularly review the status of our investments. No decision has been taken,” the firm said in a statement.
The flurry of activity in the IPO and acquisition market was heightened over the weekend as more firms emerged as candidates to float. Car breakdown company AA said on Friday it had received an unsolicited approach from Cenkos Securities to help bring the firm to market this year, although no decision has been taken.
Investors are also set to be offered shares in online catch-up service Audioboo when it announces details of a listing on the junior stock market this morning. And Ann Summers has laid out plans to sell its Knickerbox brand. It has appointed KPMG to handle the sale of the brand.