Jimmy Choo puts itself up for sale following revenue rebound

Jimmy Choo puts itself up for sale following revenue rebound

Luxury shoe maker Jimmy Choo has put itself up for sale following a 2016 sales rebound.

The firm announced it was exploring a sale on Monday (24 April) adding that it was also open to other options as part of a review to maximise value for its shareholders.

The British brand, which specialises in footwear and accessories, went public in October 2014. It has faced a few challenging years in the luxury retail market, however in March announced record revenues and profits thanks to a boost from the strong sales across Asia coupled with the Brexit-hit pound.

In 2016, Jimmy Choo's annual revenue climbed by 15% to £364m with earnings lifting 16% to £59m year-on-year.

Speaking earlier this month, the company's chief executive Pierre Denis said that menswear is a key growth area for the fashion house, adding that the company was keen to create in-store experiences that merge seamlessly with online campaigns. The boss said the concept was "easily said but complex" but one the brand would be actively pursuing this year.

JAB Luxury, which owns 68% of Jimmy Choo, said there was "no certainty that a sale of all or any of JAB Luxury's shareholding in Jimmy Choo will take place, nor as to the terms on which any such transaction may take place".

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