Luxury shoemaker Jimmy Choo, made famous by Sarah Jessica Parker’s character in the HBO show Sex and the City, is looking to go public to the tune of about $1 billion.
The brand, which is owned by JAB Holdings, may list an initial public offering as soon as this month in London as demand for high-end shoes grows. Bank of America (BAC) will manage the sale, and HSBC Holdings (HSBC) has also been retained, people familiar told Bloomberg News.
The IPO comes in the wake of a shake-up in the world of designer shoe-wear. Nine West Footwear Group was spun off of Jones Group after the company was snapped up by private equity firm Sycamore Partners for $2.2 billion in April.
Sycamore now plans to split the Nine West Group into four separate companies to squeeze more value from the group of well-known brands, while also courting buyers for shoe brand Stuart Weitzman.
Other designer shoe companies, including Moncler (MONC), Brunello Cucinelli (BC) and Salvatore Ferragamo (SFER), have tapped into the stock markets over the past several years to fund expansion.
JAB, which may announce plans to sell a 25% stake in the brand, took over the Jimmy Choo brand in July when the investment firm restructured its luxury business and brought Labelux products, including Zagliani and Bally, under its direct management. Labelux bought Jimmy Choo in 2011 for more than $855 million.
Jimmy Choo, the maker of vaunted products like the $1,995 Lust peep-toe sandal, sells women’s and men’s shoes, handbags and accessories across more than 100 stores globally.
