Jimmy Choo up for sale

Jimmy Choos has invited offers from interested buyers. Photo: REUTERS / Arnd Wiegmann

JOHANNESBURG - Jimmy Choo, the luxury shoe brand made popular by television character Carrie Bradshaw, is up for sale.

Well-heeled buyers have been invited to purchase the company which is valued at 700-million pounds.

 Jimmy Choo is calling it a review of strategic options open to the company to maximise value for its shareholders.

 

Jimmy Choo's owners put the luxury shoemaker up for sale to focus on ...coffee https://t.co/FvzgwOYMnp pic.twitter.com/iwrmkCUQt6

— Amy Thomson (@athomson6) April 24, 2017

The luxury shoemaker has faced some hardships in the luxury retail market.

Brokers have even described 2015 as a year to forget for the shoe brand made popular by celebrities.

It did, however, get a boost in revenues and profits in 2016,  thanks to strong sales across Asia coupled with the Brexit-hit pound.

Jimmy Choo has more than 150 stores worldwide.

It' sale is expected to attract the attention of rival luxury houses and big-hitting Chinese, Middle Eastern and Russian buyers.

The company has invited interested parties to make themselves known to its bankers, Bank of America, Merrill Lynch or Citi.

eNCA

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