JIMMY CHOO IS PUTTING ITSELF UP FOR SALE

High-end shoe brand Jimmy Choo has announced it is launching a strategic review of the business that includes a possible sale.

The company said in a regulatory update on Monday that it is “seeking offers for the company” and says its major shareholder, JAB Luxury GmbH, is supportive of the process. Bank of America Merrill Lynch and Citi are overseeing the sale process.

Jimmy Choo says it is putting up the “for sale” sign “to maximize value for its shareholders.” The company warns that there is “no certainty that an offer will be made, nor as to the terms on which any offer will be made.”

Last month Jimmy Choo published its full-year results, showing a 1.6 percent rise in revenue to £364 million when currency fluctuations were discounted. Pre-tax profit fell from £22.1 million in 2015 to £17.7 million last year.