London-based footwear brand Jimmy Choo is preparing for an initial public offering on the London Stock Exchange; multiple sources indicate that the company will offer 25 percent of its shares come October. This is exciting news for the Jimmy Choo brand, because an IPO sets the stage for an influx of cash that could spell growth for the popular shoemaker. The company is currently valued at $1 billion, according to WWD.
Generally, when brands raise capital from IPO, it helps to fund expansion in virtually ever sector, and it appears as though Choo is headed in that direction. WWD reported that the brand will essentially be looking to “triple its directly operated store presence to more than 300 units worldwide,” and we look forward to seeing what happens once the brand hits the floor of the London Stock Exchange.