Today: Wednesday, 20 November 2019 year

Luxury shoe brands Jimmy Choo put up for sale

Luxury shoe brands Jimmy Choo put up for sale

Jimmy Choo, famous fashion brand, is ready to change itself cardinally, the corporation put up for sale. In the plans of the top management (Germany’s billionaire Reimann clan) of this shoe brand is to focus on consumer goods.

Jimmy Choo, British luxury retailer, is going to maximise shareholder value through the putting itself up for sale. This business movement will allow focusing on consumer goods, said the JAB Luxury on Monday. We will see no more astounding ads with long-legged actresses like Kim Basinger and Nicole Kidman in sexual stilettos, pity!

Another luxury mark, Bally International, also belongs to the JAB. This Swiss company produces the footwear and accessories may be put up for sale too. According to the bosses, Jimmy Choo brand has already discussed the selling plans with two-thirds (68 percent) shareholder JAB, they supported the process, initiated by the Germany’s billionaire Reimann family, real owners of JAB.

Jimmy Choo

Jimmy Choo: facts and figures

The business structure should be very flexible to be profitable as more as possible, and a luxury trademark Jimmy Choo’s management is doing its best to maximise the income. Jimmy Choo s a part of JAB Holdings, the stiletto shoes and accessory maker shares hit a record high, valuing the business at around 720 million pounds. In March, the shoe brand reported a 15.7 percent rise in annual core earnings to 59 million pounds, on revenue up 14.5 percent.

Jimmy Choo

JAB’s luxury portfolio also includes British jacket brand Belstaff which could now be surplus to requirements. It indicated that it intended to retain its investment in beauty products maker Coty.