The journey of Jimmy Choo has been nothing short of stunning. Even the founders must have never imagined the heights it reached and the kind of valuations it has managed to create. The shoe company appears to be going from strength to strength. Tower Brook Capital Partners are the current owners, but the private equity firm has practically put the company up for sale.
They have announced that they have hired Goldman Sachs to consider “long term strategic†options for Jimmy Choo. The company runs 110 branded stores around the world and has a current valuation of £500million. The owners though are also exploring the option of going in for an initial public offering. The company was founded in 1996 by Tamara Mellon, who still holds 17% stake in the company, with a loan of £150,000 from her father Tommy Yeardye of Vidal Sassoon fame.
In spite of the meteoric rise of the company it has changed hands frequently. Tower Brook had purchased the majority stake in the company in 2007 from London based Lion Capital. No one can deny the genius of Jimmy Choo but it also got lucky with some accidental celebrity endorsements and it also assiduously courted the stars and the fashion media to phenomenal effect.
Via: Independent
