Jimmy Choo to float on London Stock Exchange with IPO plans

 
Lynsey Barber
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Shoemaker Jimmy Choo will float in London (Source: Getty)

The luxury shoemaker made famous by the television show Sex and the City has confirmed it will go public in a much-anticipated IPO.

Jimmy Choo owner JAB Holdings said the listing on the London Stock Exchange, which could value the firm at up to £1bn, would fund the designer label’s growth and expansion into new markets.

The luxury brand posted £281m sales last year and earnings before tax of £47m.

Jimmy Choo chief executive Pierre Denis said:

The results speak for themselves through Jimmy Choo's strong continued top line growth, progressive margins and cash generation. Jimmy Choo is a clear success story with strong momentum and I am confident that our future as a public company can only extend our reputation and position in this attractive sector.

BoA Merrill Lynch is acting as global coordinator on the deal and is joint bookmaker with HSBC. BHF Bank is acting co-lead manager.

The designer shoemaker beloved by celebrities has pinged around private equity owners since 2001, ending up in the hands of JAB in 2011. The group also owns luxury labels Bally and Belstaff.

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