Cobbler to the stars Jimmy Choo to float on stock exchange

The firm has announced it is to take a bold step on to London’s Stock Exchange next month as it seeks the funds to expand in markets across the globe.

At least one quarter of the company will be listed as owner JAB Holdings sells down part of its stake in a move expected to value the business at more than £600million.

Jimmy Choo is likely to be one of a number of high profile names joining the stock market in the coming weeks after the removal of uncertainty over the Scottish referendum result. Shoes are seen as one of the fastest-growing segments of the luxury goods market and Jimmy Choo said it would continue to open 10 to 15 stores a year, with Asia topping its priority areas for growth.

Non-executive chairman Peter Harf said: “Since JAB Luxury acquired Jimmy Choo in 2011, the business has undergone significant investment and is now comprehensively scaled for growth.”

The multi-million pound move paints a stark contrast to the brand’s humble beginnings at the hands of its eponymous founder.

Born to a family of Malaysian shoemakers in 1948, a young Mr Choo made his first shoe under the watchful eye of his father at the tender age of 11.

After studying at the London College of Fashion he set up his first shop in Hackney in the 1980s.

His fine craftmanship was picked up on by Vogue accessories editor Tamara Mellon and together they laid the foundations of an empire.

It is a regular namecheck from four fictional New Yorkers, however, which is credited with triggering its meteoric rise to the top of the footwear ranks.

As soon as Sex and the City’s Carrie Bradshaw pulled on a pair, they became the must-have for every red carpet and the most-wanted item on the wishlists of millions of women.

Mr Choo sold his interest in the luxury goods firm in 2001 when private equity firm Phoenix Equity Partners invested roughly £9 million in the business. Lion Capital took control in 2004 and TowerBrook bought a majority stake in the business in 2007 in a deal which valued it at £185 million.

His niece, Sandra Choi, remains creative director at the label and today there are 120 shops worldwide.

Chief executive Pierre Denis said: “The results speak for themselves through strong continued top-line growth, progressive margins and cash generation. 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.”