Soles for sale: Jimmy Choo puts toe into market
Sunday 06 February 2011
Shoemaker to the stars Jimmy Choo is going up for sale and could be worth up to £500m.
TowerBrook Capital Partners, the private equity house which bought a big stake in Jimmy Choo in 2007, had been carrying out a "strategic evaluation" of the business.
Morgan Stanley and Goldman Sachs were brought in last summer to advise TowerBrook and it is their recommendation the company should be sold this year rather than floated. Jimmy Choo, which is run by Tamara Mellon, left, has 115 outlets globally and is moving into bags, men's shoes, perfume and clothing.
Luxury goods are storming ahead and last week both LVMH, owners of Louis Vuitton, and Hermès reported record results. Towerbrook bought an £80m stake in the womenswear chain Phase Eight, which has 82 shops.
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