Is Jimmy Choo Headed Toward $1.7 Billion IPO?
Jimmy Choo may be getting its fashionable ducks in a row to become a public company.
Choo’s parent company, luxury powerhouse Labelux, brought the shoe brand for $850 in 2011 and is considering offering the public a minority stake in the company. Bloomberg is reporting that Jimmy Choo could be valued as high as $1.7 billion.
“Labelux has a long-term vision and development plan for Jimmy Choo and has no intention of giving up control of the company,” an industry source told Women’s Wear Daily. “If there is any listing at all, it will be a minority one. The company has been expanding over the past three years, and it’s a very normal process to discuss the next steps to accelerate growth. The reality is that anything can happen in this climate: There is a financial bubble that favors IPOs now, but anything can happen to that.”
WWD’s insider brings up a very good point. Michael Kors and Vince both recently had success going public and Marc Jacobs left his post as Louis Vuitton’s creative director to take his personal brand public.
Labelux hasn’t commented on its decision to take the brand public, only offering “Jimmy Choo is a clear success story with strong momentum, and we regularly review the status of our investments. No decision has been taken.”
We’ll be sure to keep you updated with the latest.