23 May '11, 1pm

Jimmy Choo bought by Labelux for £500m

Jimmy Choo bought by Labelux for £500m

Labelux, the European private luxury group that owns Bally, has acquired Jimmy Choo for over £500m from TowerBrook Capital. Jimmy Choo was founded in 1996 in London by Mellon, a former Vogue editor, and shoemaker Jimmy Choo, who sold his interest in 2001. TowerBrook Capital Partners bought Jimmy Choo in 2007 for £185m. It has developed the company into a global brand. In 2010, the company reported net sales of £150m. Its range now includes handbags, scarves, eyeware, belts, fragrance and, most recently, men’s shoes. Founded in 2007, Labelux, based in Austria, holds such fashion brands as Bally, Derek Lam and Zagliani in its portfolio. Ms Mellon (pictured below ) 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 enormous growth potenti...

Full article: http://www.luxuo.com/luxury-trends/labelux-buys-jimmy-cho...

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Jimmy Choo changes hands again!!

Jimmy Choo changes hands again!!

luxury-insider.com 25 May '11, 2am

Labelux, the European private luxury group that holds brands such as Bally, has announced that it will acquire Jimmy Choo ...