Last Monday, TPG, a large US investment fund, confirmed a request for the repurchase of the well-known shoe brand Jimmy Choo, reports sostav.ru with reference to The Wall Street Journal.
Informed sources told the WSJ that TPG is one of three companies that have applied to buy the brand. Prior to that, the desire to acquire Jimmy Choo was expressed by the American Jones Group Inc., which owns the brands Nine West and Jones New York, and the Bahraini Investcorp, which entered into a contract with the German holding company in the field of luxury goods Labelux Group.
TPG refused to provide further information on the bidding process, but dispelled rumors that it was negotiating with the company's founder Jimmy Chu on joint brand management.
Jimmy Chu co-founded Tamara Mellon in the 1996 year, but in the 2001 year he sold his shares and left the company. The brand was last sold in 2007 for $ 297 million. Currently, the estimated cost of Jimmy Choo is between $ 600 and $ 800 million. Morgan Stanley and Goldman Sachs are managing the sales process.