And its looking at being valued at around £500m (approx. $847m AUD). Not that we really needed any proof that women are obsessed with shoes. Goldman Sachs and Morgan Stanley are to become advisers for Jimmy Choo, which was bought for £180m ($305m AUD) in 2007 by Towerbrook Capital. Sold by Choo for £18m ($30.5m AUD) in 2001, and later to Lion Capital for £101m ($171m AUD), sales have grown 30 per cent per annum on average since. Not too shabby in just 6 years! If the demand for sky-high stilettos was ever in doubt, let the figures speak for themselves.Originally shoes, though certainly not just any shoes, the company has since diversified into leather goods, frangrances, handbags and sunglasses. Last November, it forged a partnership with H&M to reach a wider audience- see Lanvin. With more than 110 stores in 32 countries, including recent openings in Singapore, Dubai, Sydney and Macao, CEO Tamara Mellon has certainly brought the brand a long way from its humble origins. She currently maintains an 18 per cent share in the company.
With Towerbrook evidently looking at options for an IPO, one can only assume they have been encouraged by recent successful flotations, including a sale for over £458m ($776m AUD) by French cosmetics brand L’Occitane in Hong Kong. In reality, the IPO or Sale would not occur until next year. Other options include keeping the company, and investing in more stores- particularly in the fast-growing Asian market.
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