British Luxury brand Jimmy Choo has been put up for sale. The company has decided to promise and provide its shareholders with maximum value in the form of shares and stakes.
The driving force of billionaire German Reimann family, JAB Holding, owns around 70 per cent in the shoe giant’s stocks and has announced that it is also considering to sale Swiss shoemaker Bally. It had initially acquired the brand for 540 million pounds in 2011. The decision was made public in 2014.
As soon as the news of sale was announced, the shares of Jimmy Choo skyrocketed as much as 10 per cent. But, the firm has still not revealed the name or any information of the would-be buyers.
The London-based Jimmy Choo was initially founded by ace shoe designer Jimmy Choo and former Vogue accessories Editor Tamara Mellon.
Well, whoever buys the shares is definitely going to get a big chunk in company. And definitely this is a bad news for buyers, as you can already imagine the havoc it is going to have on the prices after the big sale.