The new owner of the brand is Labelux Group, which also owns the Swiss shoe brand. Bally. Creative Director Tamara Mellon and CEO Joshua Shulman will remain in the company in their posts.
The transaction is expected to be completed by the end of June. Initially, owners, now former, valued the brand at $ 889 million. Labelux plans to increase sales at the expense of China, and by expanding the line of men's shoes and bags.
“Jimmy Choo is an outstanding brand with tremendous growth potential,” Labelux CEO Reinhard Meck commented.
Recall that before the company belonged to TowerBrook Capital Partners. Over the past seven years, the fashion house has already managed to change its owner three times, bringing huge dividends to investors.
Labelux was created in 2007 with the goal of becoming a “new global player” in the luxury market. Since then, the concern has collected brands such as Bally, Derek Lam, Saltange Azagury-Partridge and Zagliani.