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Jimmy Choo sold to Labelux for £500m
Business digest: Founder Tamara Mellon to stay on as company goes to Vienna-based luxury goods group
Jimmy Choo, the upmarket shoe company founded by former girl-about-town Tamara Mellon, has been sold to luxury goods group Labelux for £500m.
Choo, famous for its stiletto heels and worn by the rich and famous, was founded in 1996 by Mellon and shoemaker Jimmy Choo. Choo sold his stake in 2001, and the company was then bought by TowerBrook Capital Partners in 2007 for £185m.
TowerBrook is also said to have considered floating the company in Hong Kong for £650m. In the end, Vienna-based Labelux, which also owns high-end fashion brand Bally, was the winner.
Mellon will retain a stake in the subsidiary company and her job as chief creative officer.
Read a full report at Reuters. ·
