Vienna Metallic canvas and leather open toe shoe, £320.00 from JimmyChoo
Josh Shulman, who comes to Choo from Yves Saint Laurent, Gucci, RTW, Gap Inc. and Kenneth Cole in New York will be taking over as their new CEO. Hopefully we’ll be seeing more YSL and less Kenneth Cole.
Jimmy Choo Names Shulman as New CEO
Red-hot shoe and accessories label Jimmy Choo has named Joshua Shulman as its new CEO.
The London-based brand announced Monday the nomination of Shulman, though it did not say when he would take up his new position. His appointment follows in the wake of the February acquisition by TowerBrook Capital Partners, a private equity fund, of Jimmy Choo in a deal that valued the hip brand at a ₤185 million, or $360 million at current exchange rates.
The management partnership of founder Tamara Mellon and CEO Robert Bensoussan made the Shulman announcement, underling that this is an orderly change of power.
“Mr. Shulman’s appointment follows the decision of Mr. Bensoussan, CEO since 2001, to focus on building a unique portfolio of luxury brands that can be developed internationally in partnership with Tower Brook Capital,” Jimmy Choo stressed in a press release.
Bensoussan will continue to be a member of the board of Jimmy Choo and a key shareholder. A former president of Christian Lacroix, Bensoussan is known to be keen to build a powerful new luxury group.
Internationally, Jimmy Choo is a name known for its super sexy and beautiful shoes. Using Mellon’s social skills and the creative ability of designer Sandra Choi the label has grown exponentially in recent years.
Shulman is an experienced luxury executive, who has done stints with Yves Saint Laurent as an Executive Vice President and Gucci as Worldwide Director of Women’s RTW as well as holding positions at Gap Inc. His most recent position was as President of Kenneth Cole in New York.
Founded in 1996, Jimmy Choo has enjoyed explosive growth since opening its first shoe store in Motcomb Street. Today, the brand boasts 60 branded stores worldwide including recent openings in Chicago, Hong Kong, Miami, Singapore and Tokyo. Since 2001, the label has scored a compound rate of growth of 45% annually, reaching global annual sales of ₤65 million, or $125 million. –Joanne Molina for Second City Style