Jimmy Choo’s parent company JAB Holding is putting the high-end shoe brand up for sale. JAB Holding acquired the brand in 2011 for $800 million, representing 68% of the company, and took it public in 2014.
The New York Times reported that JAB Holding is also reviewing Swiss leather goods brand Bally as a possible candidate to shop around as well.
The impetus of the possible sale of Jimmy Choo comes as JAB Holdings has been building a coffee-and-food empire in the U.S. by acquiring American coffee brands like Peet’s Coffee & Tea, Caribou Coffee and Keurig Green Mountain. This month, it agreed to purchase Panera Bread for $7.5 billion.
JAB Holding, based in Luxembourg, Germany, wants to focus its investments in beauty companies like Coty, in which it has a 37% stake, along with its high-end coffee and food businesses.