So it looks like Jimmy Choo won’t be going public after all…
Jimmy Choo has been bought by the London-based private equity firm TowerBrook Capital by Labelux reportedly paying between ₤500-550 million, which is about $800 million. The actual price was not publicly disclosed. “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,” Ramez Sousou, co-chief executive of TowerBrook, said in a statement.
Also according to the released statement, Jimmy Choo founder and chief creative officer Tamara Mellon and CEO Josh Schulman will stay on board, and Mellon will take a stake in the new company being formed by Labelux.
The deal is expected to close next month.
– Taneisha Jordan