The Singaporean sovereign wealth fund has sold around one-third of its stake in Jimmy Choo via a placing by the upmarket shoemaker's joint corporate brokers Liberum Capital and RBC.

The footwear brand, in a filing on August 31, said that GIC - which bought shares worth 4.6% of the company during its London listing in October 2014 and then increased that stake to 6.1% in September 2015 - had dropped its stake in the business on August 25 to 3.99%.