Famous luxury brand Jimmy Choo might see a new owner soon. Yes, you heard it right. The company’s majority shareholder, JAB Luxury, which owns 67 percent of the shares is looking to move out and concentrate solely on its widespread food and drink interests.
Jimmy Choo has decided to implement “the various strategic options open to the company to maximise value for its shareholders”. The company’s staff own 3 per cent of the shares and the sovereign wealth funds of Singapore and Kuwait own 2.7 and 2.5 per cent respectively.
It was further stated by the company that, “There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.” The company is yet to receive an offer. Share prices of Jimmy Choo have increased by more than 8 percent since the announcement of this news.