Rumors swirled last month that Jimmy Choo had shown interest to buy back his eponymous label from co-founder and chief creative officer, Tamara Mellon, with whom he had had a falling out. Choo hasn't been actively involved in the label since 2001 but had reportedly hired London-based investment bank and corporate advisory firm Daniel Stewart to look into his financial options.
Last week, new reports confirmed that Choo had officially resigned his bids to private equity group TowerBrook Capital's stake in the company. LVMH, however, was also said to be in the running. TowerBrook expects to sell the brand for about $653 million to $817 million, more than doubling what they paid for it four years ago.
Yesterday, , the private equity firm TPG, which bought J.Crew this spring after months of complicated negotiations, confirmed that they'd put in a bid. TPG denied reports that it was considering a joint bid with Choo the man.
With an acqusition race progressing this quickly, who knows what company will throw their hat into the ring next?
Article Source: NY Mag
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