Jimmy Choo sold to Labelux for £500m
Monday 23 May 2011
Labelux, the private luxury group which already owns Bally, has bought Jimmy Choo for around £500m. Labelux snapped up the shoe firm ahead of a host of rival bids, including the private-equity outfit TPG.
Jimmy Choo was co-founded 15 years ago by the former "IT girl" Tamara Mellon, now chief creative officer. It has been sold four times since being set up, with Jimmy Choo selling his share in 2001. The latest deal could give TowerBrook almost three times what it paid for the business four years ago.
In 2010, the company reported net sales of £150m. Its range now includes handbags, scarves, eyeware, belts, fragrance and, most recently, men's shoes. Reinhard Mieck, chief executive officer of Labelux, said: "Jimmy Choo is an outstanding brand with enormous growth potential and the ability to deliver material growth synergies across our group."
- 1 JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
- 2 The West has it totally wrong on Lee Kuan Yew
- 3 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
- 4 Video shows what happens when lava is poured onto ice
- 5 Cate Blanchett loses temper during interview: 'That's your f**king question?'
Andreas Lubitz: Who is Germanwings co-pilot who 'locked out captain and crashed flight 9525'?
Germanwings crash: The poignant final photograph taken by Iranian journalist on doomed flight after watching Barcelona play Real Madrid
#FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Cate Blanchett loses temper during interview: 'That's your f**king question?'
Jeremy Clarkson calls on trolls to leave producer Oisin Tymon alone: 'None of this is his fault'
Nigel Farage brands LGBT activists 'filth' and 'scum' and accuses them of scaring away his children after they invade his local pub
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Russia threatens Denmark with nuclear weapons if it tries to join Nato defence shield
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Vote Ukip, says far-right group Britain First
iJobs Money & Business
£16000 - £18000 per annum: Recruitment Genius: A position has arisen within th...
£50000 - £63000 per annum + excellent benefits : Ashdown Group: IT Manager / D...
£16500 per annum: Recruitment Genius: Applicants must hold a valid SIA Door Su...
£50000 per annum: Ashdown Group: Business Analyst - Financial Services - The C...