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Jimmy Choo Considering $1.7 Billion IPO

Labelux would maintain majority control.
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Iconic footwear brand Jimmy Choo could be the next luxury brand to become publicly traded. Luxury conglomerate Labelux, which bought Jimmy Choo for an estimated $850 million in 2011, is considering a sale or public listing of a minority stake in the company, according to a source familiar with the company's plans.

The financing would be used to turbocharge the company's growth into new territories including Asia, as well as new product categories, the source said. An IPO is only one of the options the company is considering, but given the popularity and proven success of fashion IPOs these days -- Michael Kors and Vince immediately come to mind -- it seems likely. We're told it will be at least a few weeks before an official announcement is made, but it's safe to say Labelux will maintain a majority stake in the company.

Over the past couple of years, Labelux has sold off brands including Derek Lam and Solange Azury-Patridge as part of a plan to refocus on luxury leather goods and shoe brands like Jimmy Choo, Bally and Belstaff. Currently, Bloomberg is reporting that Jimmy Choo could be valued at about 1 billion pounds ($1.7 billion) for an IPO, and our source said that was a reasonable estimate.

As Vanessa Friedman pointed out on Twitter, if Labelux does hold an IPO for Jimmy Choo, it will likely be similar to what LVMH plans to do with Marc Jacobs, offering only a minority portion of shares to the public while maintaining majority control.

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