Slow sales are to blame
The designer shoe maker Jimmy Choo has made the decision to put itself up for sale.
The firm has not received any bids yet but is also considering other options.
The new move got the approval of Jimmy Choo’s main shareholder JAB Holdings.
Jimmy Choo doesn’t just sell shoes, it also focuses on other luxury goods as well. The firm has struggled in recent years due to slow sales.
Its footwear can often be found on the celebrities, during red carpet events. Jennifer Lopez and Bella Hadid have both been known to wear Jimmy Choo shoes.
The company said in a statement: “The Board of Jimmy Choo announces today that it has decided to conduct a review of the various strategic options open to the Company to maximise value for its shareholders and it is seeking offers for the Company.
“Jimmy Choo has discussed the strategic review process with its majority shareholder, JAB Luxury GmbH, and JAB Luxury has confirmed that it is supportive of the process.”