zx750 adidas Jimmy Choo plans London IPO valuing shoe firm at
SubscriptionsGo to the Subscriptions Centre to manage your:My ProfileAn employee arranges a lady’s shoe on display in a Jimmy Choo Ltd. store in London. The company plans to expand aggressively following its IPO. (Jason Alden/Bloomberg)Jimmy Choo plans to go public on the London Stock Exchange next month in a deal that values the fashion shoe and accessories line at around $1.2 billion US.Although founded by the Malaysian designer with the eponymous name in 1996, Jimmy Choo the company is owned by JAB luxury, a conglomerate controlled by the Reimann family, from Germany. The billionaire investors plan to sell off a quarter of their stake and raise about $300 million.The company,
best known for its rock chic style and perilously high heels, is seeking to grow its business by opening new stores in Asia and elsewhere, although no new funds will be raised for the company itself in the share sale.All the proceeds will go directly to JAB and there’s no indication in the prospectus that the funds will be reinvested in the operating business.Jimmy Choo shows have featured prominently in trend setting TV shows such as Sex and the City and films such as The Devil Wears Prada. Exposure in the Korean show Love from the Star boosted the sales of anthracite lam glitter pointy toed pumps, a Jimmy Choo line called Abel.The chain owns 120 stores in some of the world’s toniest retail strips including London’s Bond Street,
New York’s Fifth Avenue, Beverly Hills and elsewhere and plans to open another 10 15 per year until 2016, with a focus on the Asian and specifically Chinese market.The company plans to have 30 stores in China by 2016, up from 11 today.Comparatively,
rival luxury shoe maker Christian Louboutin, famous for its carmine red soles, has 92 boutiques worldwide of which 13 are in mainland China.”There are opportunities for specialist shoe brands to come into the Chinese market,” Jimmy Choo CEO Pierre Denis told reporters on Tuesday.”We feel very strongly that there is no reason why one day the Chinese client will not want to have shoes coming from a specialist company.”By submitting a comment,
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