Business

Jimmy Choo bought by luxury goods firm Labelux

Shoemaker Jimmy Choo with a drawing of one of his creations
Image caption The brand was founded in 1996 by Jimmy Choo and Tamara Mellon

UK shoe maker and retailer Jimmy Choo has been bought from TowerBrook Capital Partners by luxury goods group Labelux.

The size of the deal, which should be completed in June, has not been disclosed.

Jimmy Choo was founded in 1996 in London by current chief creative officer Tamara Mellon, a former Vogue editor, and shoemaker Jimmy Choo, who sold his interest in 2001.

Labelux was founded by Germany's billionaire Reimann family in 2007.

It is based in Vienna, Austria, and its other investments include shoemaker Bally.

Ms Mellon and chief executive Joshua Schulman will stay on in their current jobs as part of the deal.

TowerBrook Capital Partners bought Jimmy Choo in 2007 for £185m.

It has developed the company into a global brand, which last year reported net sales of £150m.

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