Labelux, the European private luxury group that holds brands
such as Bally, has announced that it will acquire Jimmy Choo for over
£500m from TowerBrook Capital.

This is not the first time the luxury shoe label has changed
hands. Jimmy Choo was founded in 1996 in London
by Tamara Mellon, a former Vogue editor, together with shoemaker Jimmy
Choo, who sold his interest in 2001.TowerBrook Capital Partners bought Jimmy
Choo in 2007 for £185m. Since then, the company has been developed into a
globally recognized prestige brand. In 2010, the company reported net sales of
£150m. Its range now includes handbags, scarves, eyewear, belts, fragrance and,
most recently, men’s shoes.

Ms Mellon and chief executive Joshua Schulman will stay on
in their current jobs as part of the deal. 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.”

Founded in 2007, Austria-based Labelux holds an impressive stable of high fashion
brands as Bally, Derek Lam and Zagliani.

Via [NYT]