Jimmy Choo plans $1 billion IPO


Luxury shoemaker Jimmy Choo is looking to begin its public offering in London with a valuation of about $1 billion.

The decision to go public comes in the wake of the demand for high-end shoes growing within the footwear industry. According to Bloomberg News Bank of America will manage the sale, and HSBC Holdings has also been retained. The brand, which is owned by JAB Holdings, may list an initial public offering as soon as this month in London.

JAB took over the Jimmy Choo brand in July when the investment firm restructured its luxury business and brought Labelux products, including Zagliani and Bally, under its direct management. Labelux bought Jimmy Choo in 2011 for more than $855 million. JAB, is expected to announce plans to sell a 25% stake in the brand.

The British brand was made famous by Sarah Jessica Parkerís character in the HBO show Sex and the City. Founded in the 1990s by Jimmy Choo, a Malaysian bespoke shoe maker in London's East End, who developed the business with Tamara Mellon the brand today sells womenís and menís shoes, handbags and accessories across more than 100 stores globally.