Jimmy Choo ready to answer the siren call of China's mall owners
Fans are familiar with the legend of Jimmy Choo. He began as bespoke shoemaker in the East End of London in the early 1990s catering to celebrities, including Princess Diana. Choo opened his first shop in 1996 with Vogue's accessories editor Tamara Mellon. Soon after, his niece Sandra Choi came on board as creative director (a position she still holds). Choo left the company in 2001, and Mellon in 2011, but the company grew selling handbags, small leather goods, scarves, sunglasses, belts, fragrances and men's shoes from 167 stores in 35 countries. Jimmy Choo PLC listed on the London Stock Exchange in October 2014, and is now valued at about £546 million (HK$6.6 billion).
The origin is unknown, but the quote rings true, "Cinderella is proof that a new pair of shoes can change your life."
Fans are familiar with the legend of Jimmy Choo. He began as bespoke shoemaker in the East End of London in the early 1990s catering to celebrities, including Princess Diana.
Choo opened his first shop in 1996 with Vogue's accessories editor Tamara Mellon. Soon after, his niece Sandra Choi came on board as creative director (a position she still holds). Choo left the company in 2001, and Mellon in 2011, but the company grew selling handbags, small leather goods, scarves, sunglasses, belts, fragrances and men's shoes from 167 stores in 35 countries. Jimmy Choo PLC listed on the London Stock Exchange in October 2014, and is now valued at about £546 million (HK$6.6 billion).
"It is interesting to have an accessory brand recognised and respected in the stock market," says CEO Pierre Denis, who joined in 2012. "It's a recognition of a great British brand, it's a recognition of our success."
But how does the company going public affect the brand? "In basic terms, with an IPO, you need to comply with a lot of rules and regulations, which is good because it forces a company to improve structuring. Our IPO provides us with the capacity to invest more in our brand, and finance our expansion with new stores in China."