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Michael Kors among bidders for Jimmy Choo

Michael Kors is reportedly among the bidders vying to buy Jimmy Choo for £800m.

Chinese private equity firm Hony Capital and CVC Capital Partners, which used to own Debenhams, are also in the running, Sky News reports.

All bids must be made before next week’s deadline.

In April Jimmy Choo put itself up for sale, saying it is seeking potential offers for the business.

The move is being supported by Jimmy Choo’s main shareholder, JAB Holdings.

The former Drapers Footwear Award winner previously said it was “well positioned” to make the most of a “stronger marketplace”. The business had a 15% jump in revenues to £364m for the full year to 31 December 2016, fuelled by strong growth in Asia, Europe and Japan.

In its 20th anniversary year, the business said it expects to deliver underlying profits in line with expectations and in 2017 it is recording “improving trends across all regions.”

 

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