Jimmy Choo and Bally up for sale

JAB Holding controlled by the Reimann family is putting Jimmy Choo Plc and Bally International AG up for sale to focus on the food and beverage operations it has spent billions expanding in recent years.

JAB Holding Co. said it is reviewing strategic options for both companies at a time when it’s snapping up U.S. coffee chains and a China-led revival in demand has boosted luxury valuations.

The announcements signal the end of a nearly decade-long involvement in high-end shoemaking for JAB that started when its Labelux unit bought Bally in 2008. More recently, the closely held company has fixed its focus on food and beverages, buying the likes of Caribou Coffee Co., Krispy Kreme Doughnuts and Panera Bread.

JAB said it has made a “strategic decision” to focus on consumer goods, including a 37 percent stake in cosmetics maker Coty Inc. The announcement made no mention of British jacket-maker Belstaff, which also forms part of JAB’s luxury-goods portfolio.

Bally store Rodeo Drive, Los Angeles