According to several reports, Jimmy Choo is likely to launch its initial public offering in London next month, seeking a valuation of about $1 billion. Johann A. Benckiser (JAB) Holdings, the company that also owns Bally and Coty, has hired Bank of America and HSBC Holdings to manage the sale.
Last June, JAB disbanded Labelux, the subsidiary that was managing its interests in the luxury goods sector, and brought them under its direct management. Labelux took over Jimmy Choo in May 2011 from an investment fund at a reported price of between £500 million (€625.23m-$809.37) and £550 million (€687.71m-$890.32m). At that time, Jimmy Choo's sales were estimated to have been in the region of £150 million in 2010 (€187.55m-$242.81).
Meanwhile, the world's biggest Jimmy Choo store opened a few days ago in London, covering 2,160 square feet on three floors. Located at the site of its former store on New Bond Street, it is inspired by a new store concept launched in Beverly Hills in April. It features a made-to-measure area, a bridal salon and a bar in addition to the brand's full collection of shoes, clothing, accessories, fragrances and eyewear.