Credit: Jimmy Choo

Sex and the City: Jimmy Choo to stride onto London Stock Exchange

The luxury shoemaker's £800m listing is one of the first floats of autumn.

by Rachel Savage
Last Updated: 17 Oct 2014

It had all gone a bit quiet in the City over summer, as bankers sunned themselves on their yachts and companies including Fat Face and Wizz Air were put off putative floats by a rash of over-exuberant listings.

But the clack-clack of high heels on the pavements of the Square Mile is heralding one of the first of the latest round of IPOs this year: Jimmy Choo.

At least 25% of the luxury shoemaker will be floated on the main market in London, a sale that will value the brand made famous by Sex and the City at £800m, according to the Evening Standard (which didn’t cite any sources).

The company’s revenues grew 9.4% year-on-year to £150.2m in the first half of 2014, with like-for-like sales up 2.2%. It had 120 directly operated stores at the end of June and plans to open 10-15 stores a year until 2016.

It is currently owned by Joh ABenckiser (JAB), which manages the multi-billion dollar fortune of Germany’s Reimann family. Co-founder Tamara Mellon left the company when it was bought by JAB in 2011, while Choo himself had already gone back in 2001. His niece Sandra Choi is now the creative director.

Jimmy Choo’s announcement comes a day after challenger bank Aldermore said it was planning an IPO. Top 10 house builder Miller Homes also said today it was listing in London, at a value of around £600m, according to Whitman Howard analyst Stephen Rawlinson in an FT interview. Their owners will no doubt be hoping their advisers are rather more sensible than those who priced up the rash of frothy floats in spring.

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