Jimmy Choo out of fashion as JAB eyes food & beverage deals
April 25, 2017
Luxury shoe and bag retailer Jimmy Choo (LON: CHOO) has put itself up for sale as part of a strategic review of the company. Popular with Hollywood stars and celebrities, the shoemaker said its largest shareholder, JAB, supports the move, which will see the chain's 180+ stores around the world come under the hammer.
JAB, an investment company owned by Germany’s billionaire Reimann family, is selling the stake together with its other portfolio company Bally, as it increasingly focuses on deals in the consumer non-durables sector.
Clothing and personal products companies make up less than 20% of JAB’s total investments, per the PitchBook Platform. Further divestments of such assets could be on the cards, as JAB focuses on large-scale food & beverage acquisitions to take on the likes of Nestlé. After all, the Krispy Kreme deal, paired with last year's $13.9 billion acquisition of Keurig Green Mountain, saw the investor spend some $15 billion in just one year and provides further evidence that JAB is a force to be reckoned with in the consumer sector going forward.