Man Jimmy Choo Wants To Buy Brand Jimmy Choo For $800 Million
Choo founded his eponymous label with Tamara Mellon in 1996 with a $240,000 loan from Mellon’s pop. TowerBrook Capital Partners is currently the majority stakeholder — Mellon still owns 15% of the biz, while Choo got rid of his stake a decade ago. The company has grown exponentially in the 15 years since its inception, now boasting 100 stores in 32 countries.
With TowerBrook Capital Partners looking to sell, Choo is interested in buying the company with the help of a private equity backer. Several firms have expressed interest, as has PE firm Permira-owned Valentino. While $800 mil is a whole lot of cash, it would be cool to see the brand back in the hands of the man who shares its name.