The owner of luxury footwear company Jimmy Choo, Labelux, has reportedly held meetings with selected bankers to discuss the potential sale of a minority stake in the company through an initial public offering.
While sources close to The Sunday Times implied that an IPO as soon as early this year, other sources told WWD that an IPO would be be imminent. Labelux acquired Jimmy Choo from its namesake founder and business partner Tamara Mellon in 2011 for roughly 500 million pounds. The footwear is now valued at approximately 1 billion pounds looking at the mid-range of the predicated IPO pricing.
Although the company has yet to make a final decision, the money from the potential IPO would be used to fund retail expansion into Asia, while Labelux would remain the majority stake holder. The privately owned Labelux, which also owns other brands such as Zagliani and Bally, would be following in the steps of Moncler and Salvatore Ferragamo with the launch of an IPO.