Jimmy Choo, the luxury accessories brand, has been bought by Labelux, a luxury goods company backed by Germany’s billionaire Reimann family.
Jimmy Choo was previously owned by private equity house Towerbrook, and was sold to Labelux in a deal estimated to top £500m.
It’s not known whether Tamara Mellon, the fashion journalist who founded Jimmy Choo, has also sold her 17 per cent stake in the business, although she is said to remain working for Jimmy Choo. Selling her stake could net Mellon up to ?85m.
Labelux won the bid to buy Jimmy Choo after private equity firm TPG stepped out of the race, having valued the group below the £500m asking price, according to the Sunday Telegraph.
This is the fourth time that Jimmy Choo has been sold in the 15 years since it was founded.