High-heel deal: Labelux buys Jimmy Choo for $800 mn - Hindustan Times
close_game
close_game

High-heel deal: Labelux buys Jimmy Choo for $800 mn

None | ByThe New York Times, New York
May 23, 2011 09:14 PM IST

Privately held luxury group Labelux has agreed to acquire high-end shoe and accessories company Jimmy Choo from TowerBrook Capital Partners, a private equity company, and minority shareholders.

Privately held luxury group Labelux has agreed to acquire high-end shoe and accessories company Jimmy Choo from TowerBrook Capital Partners, a private equity company, and minority shareholders.

HT Image
HT Image

The price was not disclosed. TowerBrook had been considering taking Jimmy Choo public, but opted to sell it to a strategic buyer. The sale values the company at £500 million, or $800 million, two people with direct knowledge of the matter said.

Hindustan Times - your fastest source for breaking news! Read now.

“Jimmy Choo has expanded from 60 stores to an international footprint of 120 sites and substantial potential awaits the Jimmy Choo brand, particularly in Asia, where Labelux has a proven track record,” said Ramez Sousou, co-chief executive of TowerBrook, which bought the company in 2007.

Labelux holds such fashion brands as Bally, Derek Lam and Zagliani in its portfolio.

Jimmy Choo’s top management, including founder and chief creative officer, Tamara Mellon, and chief executive, Joshua Schulman, plan to remain with the company after it changes hands.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On