Jimmy Choo co-founder Tamara Melon raised $ 50 million to develop her own brand
21.06.2019 2275

Jimmy Choo co-founder Tamara Melon raised $ 50 million to develop her own brand

Luxury brand Jimmy Choo has attracted $ 50 million of investments that will expand the market. Co-founder of Jimmy Choo Tamara Melon intends to direct the funds received to the development of innovations in production, retail development and strengthening the brand’s position in the luxury shoe market. By the end of the year, the company also plans to increase its staff from 40 to 60 people, writes Worldfootwear.com.

The investor in the project is London-based investment firm Centricus, which includes investment companies such as New Enterprise Associates and Quadrille Capital. In addition to the specified financing, the brand has already raised $ 87 million.

Tamara Melon founded Jimmy Choo in 2011, but four years later the brand went bankrupt. A year later, it was restarted, for the development of Jimmy Choo, a direct-to-consumer strategy was chosen (direct sales to the consumer). In 2018, the brand registered strong growth, its annual sales increased by 136%, of which 36% accounted for sales to regular customers.

In October 2018, Jimmy Choo sold shoes for a record $ 1 million. The brand’s online sales grew by almost 80%. To replenish the Jimmy Choo product portfolio since the beginning of 2019, Tamara Melon introduced two new product categories - handbags and sneakers.

This year, Jimmy Choo also opened the first store in Los Angeles, with the goal of rethinking the approach to providing service in luxury retail.

Luxury brand Jimmy Choo has attracted $ 50 million of investments that will expand the market. Co-founder of Jimmy Choo Tamara Melon intends to channel the funds received to develop ...
5
1
Rating

Latest News

Fendi and Burberry will close boutiques in Russia

In August 2024, Fendi (part of the LVMH group) will close its last boutique in the Moscow TSUM, and Burberry in GUM, writes Kommersant, citing data from the reports of the Russian subsidiaries of these...
15.07.2024 150

Brunello Cucinelli reported sales growth of 14,1% in the first half of 2024

Italian luxury brand Brunello Cucinelli reported preliminary results for the first half of 2024, with revenue of 620,7 million euros. Sales increased by 14,1% at current exchange rates and by 14,7% excluding...
12.07.2024 567

On the most fashionable street in St. Petersburg, street retail rent increased by 1,5 times

Bolshoi Avenue of the Petrograd Side has been the main Fashion thoroughfare of the Northern capital for many years. Over the past year and a half on this street, according to the consulting company NF Group, the share of vacant space has decreased by 5 percentage points and...
12.07.2024 724

Jacquemus and Nike presented a new collaboration for the Olympics in Paris

An updated Nike Air Max 1 sneaker, a new version of the Swoosh and a capsule collection of sportswear are the result of the latest collaboration between French brand Jacquemus and American sports giant Nike. Collection…
11.07.2024 619

Shoes of the season - luxury flip-flops

Flip flops are back. Or rather, they have already returned to fashion this summer, although now they are not just rubber shoes. The trend for chic and comfort dictates its own rules. Now flip flops and other types of flip-flops must be made of natural...
10.07.2024 666
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning