Day: 24 September 2014
JIMMY CHOO TO BEGIN LONDON IPO NEXT-MONTH
Jimmy Choo Ltd. will begin an initial public offering in London next month after owner JAB Holdings approved plans to sell a stake in the maker of $1,995 Lust peep-toe sandals.
PARIS, France — Jimmy Choo Ltd. will begin an initial public offering in London next month after owner JAB Holdings approved plans to sell a stake in the maker of $1,995 Lust peep-toe sandals.
JAB will sell part of its stake as it aims for about 25 percent of the company’s stock to be traded, Jimmy Choo said today in a statement. The shoemaker isn’t selling new shares.
“Our future as a public company can only extend our reputation and position in this attractive sector,” Chief Executive Officer Pierre Denis said in the statement.
Jimmy Choo would follow luxury companies including Moncler SpA,Brunello Cucinelli SpA and Salvatore Ferragamo SpA in selling a stake on the stock market to fund expansion. Choo, which was acquired by private-equity investors three times before being bought by JAB in 2011, sells women’s and men’s shoes, handbags and accessories in more than 100 stores worldwide. Its eponymous designer left the label in 2001, followed by co-founder Tamara Mellon a decade later.
Jimmy Choo, whose shoes were made famous by the character Carrie Bradshaw in Sex and the City, benefits from high awareness and limited distribution in Asia, where consumers are tiring of the world’s largest luxury brands. The company can sustain revenue growth by opening more stores and continuing to offer designs that appeal to both sexes, predicts Neev Capital.
JAB reorganized its business in June, bringing brands including Choo and jacket-maker Belstaff under direct management in a move it said reflected an increasing commitment to luxury goods.
Sara Dal Monte
ADIDAS ORIGINALS FOR PHARRELL WILLIAMS
Long Term Menswear Partnership Kicks Off
Sportswear giant adidas has delivered the first of four drops from its Originals collaboration with music star Pharrell Williams.
The project, announced earlier in the year, received its first outing this month with two updated heritage styles from the brand’s back catalogue.
Both the leather Superstar track jacket (£730) and Stan Smith shoe (£110) has been re-released in three monochrome colours: blue, red and black.
The zip-up jacket, made from 100 per cent Italian nappa lamb leather, features contrasting 3-Stripes sleeves, ribbed cuffs and hem, stand-up collar and front welt pockets.
Meanwhile the leather Stan Smith trainers, which returned to the market in January following a two-year hiatus, carry tonal rubber outsoles, perforated 3-Stripes and two graphics on the footbed and heel created by the 41-year-old.
It is also the first time followers of the project have seen the dedicated logo, which consists of a brushstroke equals sign and a third solid rectangle next a multicoloured adidas Trefoil symbol.
A spokesperson for adidas has already confirmed further releases, set to take place in October, November and December this year. It is not yet known how big each will be or what they will contain.
The “long term” deal with the singer and producer is expected to outlast previous collaborations from the lifestyle brand which have included Diesel, Barbour and Opening Ceremony.
The first round of adidas Originals x Pharrell Williams products are available to buy online and in stores now, including the brand’s new London flagship on Foubert’s Place.
Sara Dal Monte