Rumours are swirling that the owners of the glamorous footwear and accessories label Jimmy Choo are considering putting the company up for sale.
Reports that surfaced over the weekend suggest that Jimmy Choo president and co-founder Tamara Mellon, who owns one fifth of the company, is pondering a sale of the business and has valued it at £500m.
According to the Sunday Telegraph, the company has been in talks with a number of investment banks about the future of the business and could be close to appointing an adviser to conduct a strategic review by the end of the summer to push through a sale.
If it goes ahead, Mellon, who was awarded an OBE in the Queen's birthday honours list in June, could pocket a cool £100m.
However, it's understood that another option could be to retain the company with a view to floating it - selling shares on the stock market - for £1bn over the next few years.
After working as an accessories editor for British Vogue, Mellon founded the luxury footwear business in 1996 with Malaysian-born cobbler Jimmy Choo and helped transform a small couture studio based in East London into one of the biggest luxury shoe brands in the world. The label, which is a favourite of Hollywood actresses Angelina Jolie, Scarlett Johansson and Renée Zellweger, as well as singer Beyoncé, now has more than 100 shops globally and has branched out into accessories such as handbags and sunglasses, as well as collaborations with Hunter and Swedish high street giant H&M.
jimmychoo.com
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