Jimmy Choo For Sale?
August 8, 2010 by Andrea Toochin
Filed under Paints & Potions
Designer shoe house Jimmy Choo is reportedly considering “strategic options”, sources told London’s Telegraph. Current valuations put the London-based company at £450-500 million but some say the high-end accessories company could wait a few years and attempt a £1 billion IPO.
Among the major shareholders in the company are co-Founder Tamara Mellon, a former publicist and Vogue accessories editor, who holds about 17%. Private equity company Phoenix Equity Partners bought a stake years ago for £9 billion but sold it for £34 million to the European unit of U.S. buyout firm Hicks Muse Tate & Furst, now called Lion Capital. In 2007, Lion Capital unloaded its stake to TowerBrook, the private equity group that was part of George Soros‘ empire.
TowerBrook purchased a majority stake in a deal that valued the company at £185 million. Gala Capital, a Spanish venture capitalist, also invested in the deal.
Click here for the report from The Telegraph of London
