Speculation surrounding a future IPO for luxury footwear label Jimmy Choo finally seems to reaching its climax, as the label could float as early as this fall.
Jimmy Choo, owned by luxury group Labelux, is preparing for a listing on the London Stock Exchange and may be valued as much as 900 million pounds, according to Reuters. The privately owned group has also hired Bank of America Merrill Lynch to advise on its market flotation and may be interested in selling a 25 percent stake in the company.
The group, owned by the German family Reimanns, acquired Jimmy Choo in 2011 from former owner Tower Brook Capital for over 500 million pounds. An eventual IPO of the luxury label could mean that Labelux stands to make over 13 times the labels gross profit (EBITDA).