What: Privately-owned group Labelux, parent of brands including Bally and Derek Lam, has agreed to buy shoe and accessories brand Jimmy Choo from TowerBrook capital partners.
What NYTimes says: TowerBrook had been considering taking Jimmy Choo public, but opted to sell it to a strategic buyer. The sale values the company at about £500 million, or $800 million, two people with direct knowledge of the matter said, declining to elaborate or be identified because they were not authorized to discuss the matter. Labelux, based in Austria, is a division of Joh. A. Benckiser, the investment arm of the Reimann family. Founded in 2007, Labelux holds such fashion brands as Bally, Derek Lam and Zagliani in its portfolio.
What we say: For budget fashionistas like us, getting a pair of Jimmy Choo’s, unless it’s from a masstige partnership like Jimmy Choo for HM, is really out of the question. The best and probably the only way to acquire one is on sale, sometimes you can catch them on one of the online sample sale sites.
Photo credit: Jimmy Choo website