Jimmy Choo announces strategic review, puts itself up for sale

Jimmy Choo said on Monday that it is conducting a review of various strategic options to "maximise value for its shareholders", including the sale of the company.

The luxury shoe maker said it has discussed the strategic review process with its majority shareholder, JAB Luxury, and it has confirmed that it is supportive of the process.

The group said it was not in receipt of any approaches at the moment, but any parties with a potential interest in making a proposal should contact Bank of America Merrill Lynch or Citi.

"It is currently expected that any party interested in participating in the formal sale process will, at the appropriate time, enter into a non-disclosure agreement and standstill arrangement with Jimmy Choo on terms satisfactory to the board of Jimmy Choo and on the same terms, in all material respects, as other interested parties."

The company said there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made, adding that further announcements regarding timings for the formal sale process will be made when appropriate.