The Sex and the City favourite brand Jimmy Choo was purchased this week by the luxury goods group Labelux for £525.5 million. The owners Towerbrook had originally only purchased the company for £225million back in 2007 and since its creation the brand has been sold 4 times.
The creator of the marvellous couture shoe was a joint venture between It girl Tamara Mellon and Malaysian designer Jimmy Choo back in 1996 created with £150,000 of loan money from Tamara’s co-founding father of Vidal Sasson Tommy Yeardye. Tamara plans to remain chief creative officer of the brand and a 15% equity stake.
Mellon comments on the sucess of the sale “I am immensely proud of all we have achieved over the last 15 years and delighted we are to be part of Labelux, a partner [that] I know shares our values and passion and [that] seeks ambitious growth in the luxury industry” She continues “This is wonderful news for the women who are, or who aspire to become, part of the Jimmy Choo lifestyle.”
Labelux expands its portfolio which currently includes luxury retailer Bally, whilst this expansion aims to increase its presence in the Asian market.
“Labelux is really complementary to Jimmy Choo with its focus on luxury fashion, accessories and jewellery,” ceo Joshua Schulman Jimmy Choo told WWD. “We look forward to partnering with them on our growth plans.”