Jimmy Choo sale 'option' in review

CELEBRITY shoemaker Jimmy Choo could be floated or sold under a review ordered yesterday by its owner TowerBrook Capital.
By The Newsroom
Published 10th Sep 2010, 16:30 BST
Updated 10th Sep 2010, 23:14 BST

The private equity firm announced that it had hired Goldman Sachs and Morgan Stanley to look at options for the company.

These could include accelerating the company's expansion via new strategic initiatives, partnerships or accessing alternative financing markets.

It may mean a sale or flotation on the stock market.

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Reports have said TowerBrook is considering an initial public offering, which could value the Jimmy Choo business at around 500 million.

"We are now initiating a review of the best strategic and financing options for the business to support its long term development and continued success," said TowerBrook's co-chief executive, Ramez Sousou.

TowerBrook led the buyout of Jimmy Choo in 2007 for 185m.