Jimmy Choo is up for sale, the luxury shoe company has announced.
The much-loved fashion brand is seeking potential offers and exploring options for the company’s future.
With backing from the brand’s main stakeholder, JAB Luxury GmbH, the company said in a statement:
“The Board of Jimmy Choo announces today that it has decided to conduct a review of the various strategic options open to the Company to maximise value for its shareholders and it is seeking offers for the Company.”
JAB Luxury said there was “no certainty that a sale of all or any of JAB Luxury’s shareholding in Jimmy Choo will take place, nor as to the terms on which any such transaction may take place”.
The company currently has more than 150 stores worldwide and as well as shoes it sells a range of other luxury accessories, including handbags, scarves, sunglasses, eyewear, belts and fragrance.
The company was cofounded by British businesswoman Tamara Mellon back in 1996.
However, in 2011, Mellon left the company and in 2013 she published a booked entitled ‘In My Shoes’ about her experiences with the brand.
In recent years, the brand has altered its marketing strategies to cater to a younger consumer - with celebrities such as Nicole Kidman, Kit Harrington and Dakota Fanning fronting their campaigns.
However, recently, the company’s sales growth has slowed to 2% in 2016 compared to 7% in 2015, according to analysts at HSBC, reports the BBC.
The brand enjoyed increased popularity when in season three of TV series ‘Sex And The City’, Sarah Jessica Parker’s character Carrie Bradshaw wore a pair of suede and pink feathered JC heels.
The footwear is a firm red carpet favourite of celebrities including Sandra Bullock, Jennifer Aniston and Jennifer Lopez.
