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Jimmy Choo Owner Labelux Said to Hold Early Talks for Unit’s IPO

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.