Jimmy Choo owner Labelux, the company that holds brands including Bally, has had preliminary meetings with bankers about the possible sale of a stake in the luxury shoemaker via an initial public offering, a person familiar with the matter said. The business could be valued at about 1 billion pounds ($1.7 billion) in the mid-range of the estimated IPO pricing, the person said. Labelux bought Jimmy Choo in 2011 for more than 500 million pounds, a person familiar with the matter said at the time. Jimmy Choo was founded in 1996 by the shoemaker of the same name.Source