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Jimmy Choo Aims for London IPO as Owner JAB Approves Sale

Jimmy Choo Ltd. plans an initial public offering in London next month, betting that consumer demand for its $1,995 Lust peep-toe sandals can draw investors as larger luxury companies confront slumping demand in Asia.

Owner JAB Holdings is seeking to sell at least 25 percent of Jimmy Choo, aiming for a stock market debut at the end of October, the London-based shoemaker said today in a statement. The company is seeking a valuation of about $1 billion, people familiar with the situation have previously told Bloomberg News, asking not to be identified because it was confidential.