International luxury shoe brand Jimmy Choo may be up for sale.

The Daily Mail reported that Tamara Mellon, who owns a fifth of the label is prepared to sell her Jimmy Choo label in a deal worth £500 million (S$1.07 billion).

She is reportedly close to appointing financial advisors to sell the company which she founded in 1996.

However, The Telegraph reported that the owners may also want to retain the business with a view to floating it over the next few years.

She met Malaysian shoe designer Jimmy Choo when working as the accessories editor of Vogue magazine, and helped him expand his niche business producing hand-made shoes for London socialites to an international brand with boutiques in 100 countries.

Popular with celebrities, the label was also featured extensively in TV series Sex and the City.