Jimmy Choo says it will take direct control of its business in China after buying out partner Kutu.
The acquisition is due to be completed in the fourth quarter while direct operations will take place this month. Jimmy Choo (Shanghai) Trading Company, head by Wannie Suen, president of Jimmy Choo Asia, will now oversee the running of the 36 stores.
“China is a vital market for Jimmy Choo, where we have ample opportunity for growth,” said Pierre Denis, CEO of Jimmy Choo. “Having control in the market will allow us to further develop the brand and our business and become closer to our customers in the region.”
Jimmy Choo entered China in 2007 through a distribution agreement with On Pedder. It started working with Kutu in 2009.
Having a direct control of its mainland business, Jimmy Choo plans to open four new stores in the coming months and further 30 stores over the next few years.
GB
