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The
firm, which specializes in shoes and accessories, said it had
discussed the strategic review process with its majority
shareholder, JAB Luxury, which has confirmed it is supportive of
the process.
JAB Luxury holds 67.7 percent of Jimmy Choo, which trades from
over 150 stores globally.
Shares in Jimmy Choo, which floated on the London Stock Exchange
at 140 pence in 2014, have increased 35 percent over the last
year. They closed Friday at 168.5 pence, valuing the business at
657 million pounds ($840 million).
Jimmy Choo said Britain's Takeover Panel has agreed that any
talks with third parties may be conducted within the context of
a “formal sale process” to enable conversations with parties
interested in making a proposal to take place on a confidential
basis.
Jimmy Choo said it is currently not in receipt of any
approaches.
It is being advised by BofA Merrill Lynch and Citigroup.
Last month Jimmy Choo reported a 15.7 percent rise in core
earnings to 59 million pounds.
(Reporting by James Davey; editing by Kate Holton)
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