Jimmy Choo has announced it is seeking potential offers for a sale of the business.
The luxury shoe maker, which has a market value of about $900 million, has not received any bids yet and is also weighing other options.
As well as shoes, Jimmy Choo produces a range of luxury goods, but has seen sales slow in recent years.
The company’s recent move received backing from Jimmy Choo’s main shareholder JAB Holdings, which is also an investor in Krispy Kreme donuts and Coty.
Jimmy Choo’s shoes are often seen on the red carpet worn by celebrities such as Jennifer Lopez and Beyonce.
Kate Middleton is also a fan of the British shoe designer, as is Emma Stone.
Image source Flickr
The company said in a statement: “The board of Jimmy Choo announces today that it has decided to conduct a review of the various strategic options open to the company to maximize value for its shareholders and it is seeking offers for the company.
“Jimmy Choo has discussed the strategic review process with its majority shareholder, JAB Luxury GmbH, and JAB Luxury has confirmed that it is supportive of the process.”
JAB Luxury, which owns 68% of Jimmy Choo, said there was “no certainty that a sale” would take place.
Jimmy Choo’s sales growth was 2% in 2016 compared with 7% in 2015 and 12% in 2014, analysts at HSBC noted last month.
The company’s shares rose 8% on news of the possible sale.
Jimmy Choo’s shares have now gained about 30% this year, helped by a boost from the weaker pound and improved sales in Asia.
Salvează
Hermes and Burberry’s financial results for Q3 of 2015 have beaten analysts’ expectations.
The figures come at a challenging time for luxury brands in the key Asia-Pacific region, including China.
Hermes sales rose by 7.9% in Q3 on a like-for-like basis, ahead of forecasts, helped by demand for leather goods and ready-to-wear fashion.
Meanwhile, Burberry reported a better-than-expected 3% rise in first-half underlying profit.
The maker of trench coats and cashmere scarves said it made a pre-tax profit of £153 million ($233 million) in the six months to September 30.
Burberry also said its comparable store sales improved in its third quarter compared with the second.
Meanwhile, Hermes stuck to its target of increasing annual sales by 8% at constant exchange rates.
It said that in the quarter Japan had delivered 16.6% like-for-like growth, and Europe 14.8%.
However, Asia-Pacific growth, excluding Japan, dwindled to 1.5% amid “a difficult context in Hong Kong, Macao and to a lesser extent in continental China”.
In October, Burberry had also warned of an increasingly challenging environment for luxury goods in China and Hong Kong.
Last month, LVMH, the world’s biggest luxury group, said the summer stock market collapse in China had hit sales, particularly at its flagship Louis Vuitton brand.
Cosmetics giant L’Oreal has also warned that demand for its luxury products has suffered a slowdown in Hong Kong and at airports.
Dior has launched a limited edition collection of 24-carat gold temporary tattoos, meant to look like pieces jewellery.
The $120 set of Dior Grand Bal Golden Tattoos includes designs of cuffs, delicate rings and charm bracelets composed of gold leafing.
Created by Dior jewellery designer Camille Miceli, the sets were made for the brand’s Christmas theme based around the idea of a 17th Century Grand Ball.
It is unknown how long the temporary tattoos, available exclusively through Nordstrom, actually last.
Dior isn’t the first luxury brand to offer the novel idea of temporary tattoos, however.
Dior Grand Bal Golden Tattoos sets were made for the brand’s Christmas theme based around the idea of a 17th Century Grand Ball
Chanel launched a collection of black temporary tattoos in March last year, inspired by the intricate designs from its spring 2010 collection.
Models walked down Chanel’s hay-strewn runway wearing chain and pearl body-art designs around their wrists, thighs and necks, seemingly in lieu of jewellery.
The tattoo versions were released five months later, which came in a 55-piece set, and retailed for $75.
Exclusively sold through Selfridges and at Chanel boutiques, it was the first high-end brand to sell such a product.
