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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

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The distinctive red soles of Christian Louboutin shoes are entitled to trademark protection, a federal appeals court in Manhattan has ruled.

The 2nd U.S. Circuit Court of Appeals on Wednesday ruled in favor of the French maker of luxury shoes worn by stars such as Sarah Jessica Parker, Scarlett Johansson and Halle Berry.

The court says Christian Louboutin is entitled to protect its brand against red-soled shoes made by competitor Yves Saint Laurent S.A.S., which is also based in Paris.

The distinctive red soles of Christian Louboutin shoes are entitled to trademark protection, a federal appeals court in Manhattan has ruled

The distinctive red soles of Christian Louboutin shoes are entitled to trademark protection, a federal appeals court in Manhattan has ruled

An exception to the rule is when the shoe itself is red as well. In that instance, a rival may match the color of the sole to the color of the shoe.

This would allow YSL to continue to produce “monochrome” versions of its Tribtoo platform pumps.

The U.S. Patent and Trademark Office in 2008 had granted the trademark protection to Christian Louboutin.

Christian Louboutin has applied glossy vivid red to the outsoles of women’s shoes since 1992.

The shoes sell for upwards of $700 a pair.

 

 

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