Jimmy Choo wants his company back. The shoe designer hasn't been involved with his namesake label since 2000, but he's offering £500 million to take the reins once again.
British private equity firm TowerBrook currently owns the majority of the company, but word is that they're keen on selling. LVMH, Valentino, and a few other private equity firms have shown interest in taking over those shares, but Jimmy Choo isn't worried.
He's enlisted adviser Daniel Stewart to help seal the deal. That will involve recruiting investors to back his bid, but Stewart has enough experience in this arena to help him find the right ones.
Lauren Goldstein Crowe, author of The Towering World of Jimmy Choo: A Glamorous Story of Power, Profits, and the Pursuit of the Perfect Shoe says that iconic Jimmy Choo name may be the key to Choo's success.
"It's feasible that an Asian investor would be interested," she said, adding that the marriage of Asian moniker and luxury could prove enticing.
If the deal does go through, all eyes will be on what happens to Tamara Mellon. She currently owns 15% of the business, and holds the titles of co-founder and chief creative officer. Ms. Crowe predicts that Mellon would certainly move on if Choo were to take control once again, but it remains to be seen.
Would you like to see Jimmy Choo in charge at Jimmy Choo once again?
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