Designer footwear and accessories maker Jimmy Choo plans to go public on the London Stock Exchange. The company wants to raise funds to promote the shoe brand in the fast-growing Asian markets. According to Kommersant experts, Jimmy Choo's IPO could raise up to 1 billion pounds.
Jimmy Choo today belongs to the Swiss private investment group Labelux. The final decision on how to attract financing for the brand has not yet been made, and this process may take several months. In addition to the IPO, the sale of shares in the company is also considered. In any case, Labelux intends to maintain control of the company. Only a minority share is planned to be sold on the stock exchange, a change of ownership is not expected.
Recently, Choo has been confidently demonstrating growth: the shoe business has grown by about 30% since the time Labelux was bought for 525 million pounds in the 2011 year. According to the results of the 2012 year, Jimmy Choo profit before tax amounted to 26,9 million pounds.
Jimmy Choo was founded in London in 1996 by Jimmy Chu. Prices for shoes range from 200 to 2 thousand pounds.