Jimmy Choo isn’t losing its market appeal, as Capri Holdings considers further growth

Background

The fairytale is over, but the shoe remains with Capri Holdings this time. The ownership of Jimmy Choo stays in the US, at least for now. The label didn’t seem to fit within the ambitions of Prada Group, which does have an industrial plan in the making for Versace.

It is a fact that there is speculation that the Jimmy Choo file is still open on several desks. According to Bloomberg, entrepreneur Renzo Rosso, founder of Diesel and chairman of the OTB Group (which includes the brands Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf), made a formal offer in February for the Versace and Jimmy Choo brands to the North American company Capri Holdings. Rosso told Bloomberg that the bid was “never considered and we don’t know why, even though it was in line with the final agreement”. The brand could now be in the sights of co-founder Tamara Mellon, as Footwearnews reported in February.

In third fiscal quarter of 2025, Jimmy Choo recorded revenue of 159 million dollars

After completing the deal with Prada Group, Capri Holdings announced that it would invest in the luxury shoe brand, whose results have declined recently.

In the third fiscal quarter of 2025, Jimmy Choo recorded revenue of 159 million dollars, a decrease of 4.2 percent compared to the previous year. Revenue in North and South America decreased by 10 percent, while revenue in the EMEA region increased by 9 percent and revenue in Asia decreased by 17 percent. Jimmy Choo's operating loss was 6 million dollars and the operating margin minus 3.8 percent, compared to an operating profit of 4 million dollars and an operating margin of 2.4 percent in the previous year.

Idol: ‘We remain confident in long-term growth potential of Jimmy Choo’

John D. Idol, chairman and chief executive officer of Capri Holdings, emphasised last week that the transaction with Prada Group for the sale of Versace “reflects our commitment to increase value for shareholders, strengthen our balance sheet and stimulate future growth of Michael Kors and Jimmy Choo”. He added: “We continue to implement the strategic initiatives that we shared during our recent Investor Day, and we remain confident in the long-term growth potential of Michael Kors and Jimmy Choo.”

Michael Kors Holdings bought Jimmy Choo in 2017 for 1.35 billion dollars

According to the company's forecasts, Jimmy Choo will close 2025 with a turnover of 600 million dollars, which is to then decrease to 550 million dollars in 2026, 575 million dollars in 2027 and later flatten at 600 million dollars in 2028, before reaching 800 million dollars in subsequent years.

For 2025, Capri Holdings expects total revenue of 4.4 billion dollars. This projection is divided into 3 billion dollars from Michael Kors, 810 million dollars from Versace and 600 million dollars from Jimmy Choo.

Michael Kors Holdings, which would later become Capri Holdings, bought the brand in 2017 for 1.35 billion dollars.

History of brand begins in 1990s

The company Jimmy Choo was founded in 1996 by the Malaysian-born designer Jimmy Choo Yeang Keat, with its headquarters in the East End of London. Choo's niece, Sandra Choi, led the design in the studio in the East End and later became creative director, a role she holds to this day. Choo left the company in 2001.

First Jimmy Choo store opened in Motcomb Street in London in 1996

The development of retail was an integral part of the business strategy. The first Jimmy Choo store was opened in Motcomb Street in London in 1996, as a supplement to the distribution in some of the most prestigious multi-brand stores in the world. Two years later, the company expanded to the US with the opening of two stores in New York and Beverly Hills. The international expansion continued with stores in Sloane Street and Bond Street in London, Avenue Montaigne in Paris, Via Condotti in Rome, Madison Avenue in New York, Rodeo Drive in Beverly Hills and Ginza in Tokyo.

Mellon bought the entire brand in 2001, before selling Jimmy Choo to the Labelux Group in 2011.

After the acquisition in 2017, Capri Holdings also bought several Italian shoe factories and announced the opening of the new offices for the supply chain in Scandicci, Florence. The building in Via Don Perosi has been operational since January 2025. The building has an area of approximately 3,000 square metres and employs 150 people.

Label has signed a ten-year license agreement with EssilorLuxottica

The label has also signed a 10-year license agreement with EssilorLuxottica for the design, production and worldwide distribution of Jimmy Choo brand glasses. The agreement, which comes into effect on January 1, 2024, runs until December 31, 2028, with an automatic renewal option for another five years.

Currently, Jimmy Choo has a global network of stores with more than 200 stores and is present in most department stores and specialist stores around the world.

Creative director Sandra Choi

Choi was born in the UK on the Isle of Wight and was educated in Hong Kong, China. She moved to London as a teenager to complete her secondary school. During this period, Choi began working with her uncle, Jimmy Choo, who was then a high-fashion shoemaker based in the East End of London, serving the global jet set, including Princess Diana. Choi attended Central St Martins School, where she studied Fashion Design, while continuing to work as Choo's protégé. At his side, Choi perfected the art of making high-fashion shoes: designing, cutting patterns, hemming, assembling and finishing. Fascinated by the craft, Choi then decided to discontinue her studies to dedicate herself full-time to designing and managing the studio. Choi has been the creative leader of the brand since 2013.