Tamara Mellon to sell Jimmy Choo to luxury firm Labelux

Jimmy Choo is a rolling stone; it's the fourth time brand has changed hands since inception. This latest deal will see the value of the firm triple (recession schmecession) and represents a significant windfall for current owner TowerBrook.

Launched by then 'It'-girl Tamara Mellon and designer Jimmy Choo in 1996, the fashion label now boasts more than 100 stores in 32 countries and an increasingly diverse product range. Jimmy Choo rose to dizzying heights of fame as the label du jour in hit series Sex & The City. Since its espousal by Carrie Bradshaw, the business has doubled in size.

Reinhard Mieck, CEO of new owner Labelux, which owns Bally, Derek Lam, Solange Azagury-Partridge, and Zagliani, sees Jimmy Choo as a natural fit with its existing portfolio.

Mieck says: "We are delighted to announce this acquisition. Jimmy Choo is an outstanding brand with enormous growth potential and the ability to deliver material growth synergies across our group."

So, what next for Mellon? She shows no signs of stepping back from the business. Both Mellon and Joshua Schulman, CEO of Jimmy Choo, will remain at the helm for the foreseeable future.

"My ambition for Jimmy Choo to inspire women around the world has never had any limits," says Mellon. "I am immensely proud of all we have achieved over the last fifteen years and delighted we are to be part of Labelux. This is wonderful news for the women who are, or who aspire to become, part of the Jimmy Choo lifestyle."

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