Jimmy Choo puts foot forward for float


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The Independent Online

Patience paid off in the City yesterday as the long-awaited floats of the British shoe brand Jimmy Choo and Edinburgh-based housebuilder Miller Homes were confirmed.

Miller, valued at £450m and Choo, valued at up to £800m, follow Aldermore, a private equity-owned UK bank, which announced plans to float on Monday.

A 25 per cent stake in Jimmy Choo will be listed in London next month by owner Joh A Benckiser’s JAB Luxury arm. The brand, whose creative director Sandra Choi is the niece of the original founder, Jimmy Choo, announced eight non-executive directors, including former Reckitt Benckiser boss Bart Becht. Jimmy Choo himself left in 2001.

Meanwhile, Miller Homes, part-owned by GSO Capital, RBS and Lloyds Banking Group, will sell at least a 40 per cent stake and will be spun out of parent Miller Group.

It plans to raise £140m by November to pay down debt.