Jimmy Choo To Launch London Flotation

Luxury shoe brand Jimmy Choo has confirmed its intention to float on the London Stock Exchange.

The company said it was targeting a minimum free float of at least 25% of existing shares in Jimmy Choo.

The proceeds would be used to help fund its growth strategy, including a new store concept and "expansion into Asia and selected new markets".

The initial public offering (IPO) could value Jimmy Choo at more than £700m.

Tamara Mellon was awarded an OBE

Jimmy Choo was bought by JAB Luxury in 2011 - 15 years after its first London store was opened by founders Tamara Mellon and designer Jimmy Choo.

The brand grew to become a 'must have' in the luxury market - with annual sales growth running at more than 10%.

It now operates from 120 own-stores worldwide.

Chief executive of Jimmy Choo, Pierre Denis, said: "Jimmy Choo is a clear success story with strong momentum and I am confident that our future as a public company can only extend our reputation and position in this attractive sector".

Revenues in the first half of the year grew 9.4% on the same period last year and Jimmy Choo said it had enjoyed an "encouraging start" to its second half.

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