Interparfums SA, which holds the Jimmy Choo fragrance license, is said to be working with the Chinese private equity group Hony Capital on a joint bid to acquire the luxury footwear firm.
Other companies said to have made it to the short list of potential bidders are CVC Capital Partners and Michael Kors. WWD reported in May that Kors was pursuing Choo. It would bring the U.S. brand a higher price point and a greater emphasis on footwear.
Market sources indicate that an Interparfums deal could be a strong possibility, as Choo scents have been the fragrance company’s second-best-selling line behind Montblanc, and the acquisition of Choo would put a firm lock on that revenue stream.
It wouldn’t be the first time Interparfums made an acquisition in the fashion space with the aim of bolstering synergies with one of the fragrance brands in its portfolio.
In mid-March 2015, the company said it was acquiring the Rochas fashion and perfume segment from Procter & Gamble Co. for a purchase price of $108 million. The deal marked the maiden voyage into fashion for the Paris-based subsidiary of Interparfums Inc. of New York.
The Jimmy Choo men’s and women’s fragrances generate nearly one-third of Interparfums SA’s fragrance sales.
More from NEWS
IHG announced that following an extensive refurbishment due to commence in early 2020, InterContinental Hong Kong, originally a Regent, will …
Intercontinental Hotels Group is reportedly working with a property investor to participate in the £1.2 billion (US$1.7 billion) auction of …