JAB Holding has underlined its intentions to expand further in the coffee & restaurant market, saying it will plans to divest its luxury brands.
The investment vehicle has revealed that it is exploring all strategic options for its Jimmy Choo and Bally footwear brands, with reports saying it will also look at options for the Belstaff motorcycle-jacket brand. The Jimmy Choo sale is expected to be completed by end-summer 2017, while the Bally review is expected to be completed in the second half of the year.
JAB said it had reached the decision as it now considers the luxury sector as non-core, and will instead focus on the consumer goods market.
The announcement comes just days after JAB picked up the Panera Bread chain for $7.2bn, adding the US chain to its existing portfolio of Krispy Kreme, Caribou Coffee, and Peet’s Coffee & Tea. JAB is also the largest shareholder in Coty Inc.
JAB Holding is the investment vehicle for the Reimann family.