25 May '11, 2am

Jimmy Choo changes hands again!!

Jimmy Choo changes hands again!!

Labelux, the European private luxury group that holds brands such as Bally, has announced that it will acquire Jimmy Choo for over £500m from TowerBrook Capital. This is not the first time the luxury shoe label has changed hands. Jimmy Choo was founded in 1996 in London by Tamara Mellon, a former Vogue editor, together with shoemaker Jimmy Choo, who sold his interest in 2001.TowerBrook Capital Partners bought Jimmy Choo in 2007 for £185m. Since then, the company has been developed into a globally recognized prestige brand. In 2010, the company reported net sales of £150m. Its range now includes handbags, scarves, eyewear, belts, fragrance and, most recently, men’s shoes. Ms Mellon and chief executive Joshua Schulman will stay on in their current jobs as part of the deal. Reinhard Mieck, chief executive officer of Labelux, said: “Jimmy Choo is an outstanding brand with enor...

Full article: http://www.luxury-insider.com/luxury-news/2011/05/sold-ji...

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Jimmy Choo bought by Labelux for £500m

Jimmy Choo bought by Labelux for £500m

luxuo.com 23 May '11, 1pm

Labelux, the European private luxury group that owns Bally, has acquired Jimmy Choo for over £500m from TowerBrook Capital...