Skip Nav
Politics
9 Iconic First Lady Gowns Worth Talking About
Lady Gaga
If Lady Gaga's Halftime Costumes Are as Magical as Her Super Bowl Suit, We're in For a Treat
Melania Trump
Melania Trump's Inauguration Outfits and the Story Behind Them

Jimmy Choo Sold For More Than $811 Million; Tamara Mellon To Stay On

>> After two months of seeking offers, Jimmy Choo is being sold to German luxury goods company Labelux — which also has holdings in Bally and Derek Lam — for an undisclosed price.

Labelux is said to have paid more than 500 million pounds ($811 million) for Choo. The brand was originally valued at 549 million pounds ($889.4 million), and had net sales of 150 million pounds in 2010.

The current Jimmy Choo management team, including CEO Joshua Schulman and chief creative officer Tamara Mellon, a co-founder of the company, will remain in place. Mellon, who retains a 17 percent stake in the brand, is understood to have made tens of millions of pounds from the deal, and she and Schulman are expected to make an investment alongside Labelux.

“Jimmy Choo is a perfect fit for us, and we see ourselves as long-term strategic investors,” said Reinhard Mieck, CEO of Labelux. “Joshua, Tamara and the management are going to need to deal with us for a very long time. We are thinking about strategies today that will take us beyond this generation to the one after that."

Labelux plans to increase Jimmy Choo's brand presence in China, as well as in men's shoes and handbags.

Around The Web
Join The Conversation
Rose Byrne Valentino Dress X-Men Apocalypse Screening 2016
Michelle Obama Black Suit at Invictus Games 2016
Anna Kendrick Altuzarra Dress BAFTA Television Awards 2016
Queen Maxima Gold Natan Dress at Liberation Day Concert 2016
Selena Gomez Mugler Jumpsuit at the iHeartRadio Awards 2016
Chloe Sevigny Jimmy Choo Campaign Spring 2016
Michelle Obama's Tango Dress in Argentina

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

From Our Partners
Latest Fashion
All the Latest From Ryan Reynolds