Investment company JAB has put shoemakers Bally International AG and Jimmy Choo Plc on sales, to focus on its expanding coffee and food operations and looking to benefit from the rebound in sales of the luxury footwear and accessories industry.

On Monday, JAB Luxury GmbH, which is part of the Reimann family investment arm, said it was reviewing its strategic options for Bally and Jimmy Choo.

The company, which is closely held, has increased its push into areas that are non-luxury, as this month it agreed to purchase Panera Bread Co at a price of $7.2 billion, adding a chain of bakery/cafés to its food empire that already spans bagels, doughnuts and coffee.

The company is also the largest shareholder in Coty the cosmetics maker.

One analyst said JAB made the decision it would focus on successful core businesses in its consumer goods arm including Coty.

Jimmy Choo, based in London, is the maker of Lolita 100 sandals and said it would conduct a complete review of different strategic options that would maximize its value for shareholders and was looking for offers.

JAB then followed with other separate statements that said it supported the review of Jimmy Choo and was considering all options for Bally, the seller of footwear and clothing based in Switzerland.

Jimmy Choo, who in the past has customers that ranged from Princess Diana to fictional Sex in the City’s Carrie Bradshaw, has seen shares bounce back over the last 9 months as the demand for premium goods had been revived.

The brand might attract some interest from a bigger player in the luxury industry that is attempting to build its portfolio of footwear and accessories, which is seeing an increase in consumer spending amidst a bounce back in important markets such as China.

Before it agreed to purchasing Panera Bread, JAB acquired other chains such as Caribou Coffee, Peet’s Coffee and Tea and Krispy Kreme Doughnuts, which helped turn it into one of the three big world players in coffee with Nestle SA and Starbucks Corp.

Jimmy Choo stock was up 9.8% in London during early morning trading on Monday, which valued the company at £702 million. After a difficult first few years after its IPO in October of 2014, the stock rebounded in 2017.

Jimmy Choo products currently are in over 150 of its shops worldwide and in department stores as well as outlets.

Revenue last year increased 15% to end at £364 million.

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