“Every woman should have a great open-toed platform shoe in a pale gold fabric, a chic wedge for any on-grass event, and a perfect flat shoe in a neutral colour for every day." – Tamara Mellon
On Sunday, May 22nd, Labelux, a Swiss-based privately held luxury group said that it had agreed to acquire the upscale shoe-maker and accessories company, Jimmy Choo from London-based equity firm, TowerBrook Capital.
Labelux, who also owns Bally, Derek Lam fashion house, and jeweler Solange Azagury-Partridge reportedly valued the company around ₤500 million – or $800 million.
“Jimmy Choo has enormous growth potential and the ability to deliver material growth synergies across our group,” Labelux Chief Executive Officer Reinhard Mieck said in the statement.
Jimmy Choo has 120 stores around the world, a number that has doubled since the TowerBrook acquisition back in 2001.
Jimmy Choo’s top management, including its founder and chief creative officer, Tamara Mellon, as well as its chief executive, Joshua Schulman, plan to remain with the company once the sale process is completed.
For you summer read, you sure don’t want to miss this: The Towering World of Jimmy Choo: A Glamorous Story of Power, Profits, and the Pursuit of the Perfect Shoe by Lauren Goldstein Crowe. It’s remarkable!
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