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Jimmy Choo stock rises after sale announcement

The fashion footwear brand saw double-digit growth in Asia in 2016.

By
Ed Adamczyk
Luxury shoe maker Jimmy Choo Ltd. announced the company is for sale, prompting a quick rise in its stock price Monday on London markets. Photo by Arroser/Wikipedia
Luxury shoe maker Jimmy Choo Ltd. announced the company is for sale, prompting a quick rise in its stock price Monday on London markets. Photo by Arroser/Wikipedia

April 24 (UPI) -- The stock price of luxury shoe maker Jimmy Choo Ltd. rose 10 percent in Monday trading after the company announced it is for sale.

The British fashion brand, a preference of Sex and the City character Carrie Bradshaw, announced Monday that it was considering a sale "to maximize value for its shareholders." It added no buyers have yet come forward.

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The company's largest current shareholder is JAB Holdings, with a 68 percent stake in the company. JAB, which also owns the French perfume maker Coty and several other luxury and fashion brands, is supportive of a sale, Jimmy Choo Ltd. said.

The company recently included menswear and other accessories in their product mix.

Jimmy Choo Ltd. sales fell in the United States in 2016 but saw double-digit growth in Asia, particularly in China.

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