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Jimmy Choo owners consider sale

The owners of designer footwear label Jimmy Choo are considering putting the business up for sale, in a move expected to fetch up to £500m.

The company’s owners are reportedly holding talks with investment banks about a strategic review. According to reports the company’s shareholders may appoint an adviser by the end of the summer. It has also been suggested that the company could be prepared for an initial public offering.

The company was set up in 1996 by Jimmy Choo and Tamara Mellon OBE. Choo sold out in 2001 with private equity firm Phoenix Equity Partners taking a £9m investment. Three years later the firm sold the business to private equity firm Hicks Muse Tate & Furst, now called Lion Capital. In 2007 Mellon and private equity firm TowerBrook Capital Partners bought a majority stake in the firm in a deal valued at £185m. Mellon remains chief creative officer of the company with a stake of around 18%.

Jimmy Choo has three standalone stores in the UK as well as a presence in Selfridges, Harvey Nichols and Harrods.

It is the latest footwear retailer to consider a sale with Jones Bootmaker set to appoint advisers BDO for a £40m sale process as revealed by Drapers last week.

Office is also expected to issue an information memorandum this month with hopes of securing £200m for the business which is owned by Sir Tom Hunter’s West Coast Capital investment vehicle.

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