The shoemaker plans to expand in Asia at the rate of opening 10 to 15 stores per year across the region with 30 of those in China, adding to its current 120 stores worldwide distributing Choo’s luxury shoes and handbags.
Jimmy Choo is owned by the billionaire German Reimann family though JAB Luxury who plans to sell at least 25% of its shares through the company flotation, the IPO is expected to put a valuation of over $1.14 billion USD on the company, enticing investors with its current annual sales growth of more than 10% and a massive asian expansion plan.
The Jimmy Choo company was founded in the 1990s by Tamara Mellon and Malaysian shoemaker Jimmy Choo, with its first London store opening in 1996, the company has been a global success story with 120 stores worldwide. the company has been through the hands of multiple private equity firms before recently being acquired for more than £500m in 2011 by JAB the investment arm of the billionaire German Reimann family.
Jimmy Choo more recently launched its biggest ever flagship store in London’s New Bond Street.
The brand’s biggest market continues to be the United States, however followed by Japan and where sales increased by more than 20% last year driven by both Japanese buyers and Chinese and other Asian tourists visiting the Japan on shopping trips.