JAB puts Jimmy Choo, Bally up for sale to focus on F&B operations

London

CARIBOU and Peet's coffee owner JAB put luxury shoemakers Jimmy Choo plc and Bally International AG up for sale as it focuses on the food and beverage operations that it has spent billions expanding in recent years.

JAB Luxury GmbH, part of the investment arm of the billionaire Reimann family, said on Monday that it's reviewing strategic options for both companies at a time when a revival in luxury-goods demand has boosted valuations. The announcements signal the end of a nearly decade-long involvement in high-end shoemaking that started when JAB's Labelux unit bought Bally in 2008.