Luxury shoe brand Jimmy Choo up for sale

Luxury shoe brand Jimmy Choo has put itself up for sale as part of a strategic review, with the company expected to be sold for over £700 million.

The brand said Monday that it will conduct a review of the various options it has, including a sale, in order to "maximise value for its shareholders".

Shares leapt over 8% in morning trading after the news was announced.

It is thought that Jimmy Choo, made popular by American TV show Sex and the City, will attract the attention of rival fashion houses and big name Chinese, Middle Eastern and Russian buyers.

The brand was listed on the London Stock Exchange in 2014.

The Duchess of Cambridge, Jennifer Lopez and Beyonce are all said to be fans. Credit: AP; PA

Jimmy Choo said in a statement: "The board of Jimmy Choo announces today that it has decided to conduct a review of the various strategic options open to the company to maximise value for its shareholders and it is seeking offers for the company."

The brand's biggest shareholder with 67%, JAB Luxury, has said it will support the sales process, although the company added it has not been approached or received any offers.

It saw annual revenues climb 15% to £364 million in the year to the end of December, while earnings lifted 16% to £59 million in the period.

Jimmy Choo also saw growing sales at its men's division, which accounts for 9% of revenue.

Jimmy Choo counts Jennifer Lopez, the Duchess of Cambridge and Beyonce among its fans.