Fashion

Stilettos for Sale: Jimmy Choo, Bally Companies Are on the Market

In the market for Jimmy Choo heels? You're in luck! The whole company is for sale.
IMAGE Jimmy Choo
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Shareholders of the luxury shoe company Jimmy Choo put it up for sale on Monday, April 24. Its market value shot up by 10 percent immediately after the announcement.

Now valued at around $921 million, the company’s shares are at its highest ever. But it has yet to attract a buyer.


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A Jimmy Choo boutique

Tamara Mellon founded the company in 1996 but has since left the company. She sold her shares to establish her own label. The majority of shares are now owned by the Reimann family, who control JAB Holdings. The shoe label’s representatives say that JAB is “supportive of the [sale] process.” The consumer goods company controls French perfume brand Coty and is set to purchase the Panera restaurant chain for $7.5 billion, including its debt.  

Apart from that, JAB Holdings is reportedly also reviewing its ownership of Bally International, the Swiss luxury footwear and accessories company. JAB appears to be veering away from fashion for good and focusing solely on consumer goods.

Interested investors would be pleased to know that last month, Jimmy Choo reported a rise in revenue from a year earlier, with an increase of 14.5 percent. This is great news for the company since sales in the United States dipped two percent last year but continue to grow in Asia, with a notably high demand in China.

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h/t: Reuters

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Hannah Lazatin
Senior Staff Writer
Hannah is a communications graduate from Ateneo de Manila University. She’s originally from Pampanga and from a big, close-knit family who likes to find a reason to get together at the dinner table. Experiences inspire her. “Once, at a restaurant, I received an interpretation of my second name ‘Celina,’ and it meant 'someone who tries everything once' and that is me through and through,” she says. As for the job, she wants her “readers to be inspired by the stories of the people we feature and to move them to reach for greater things.”
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