JIMMY CHOO looking to raise 575 million euros for buy back
Founded in 1996 by former Vogue editor turned business entrepreneur Tamara Mellon together with Malaysian designer Jimmy Choo, JIMMY CHOO is reported to be looking to raise 575 million euros for a buy back of the company. The company which was evaluated at 60 million euros in 2001 when the Equinox investment fund purchased 50% of the company, Jimmy Choo is estimated to be worth over 500 million euros today, having expanded since from women’s shoes to handbags, eyewear, fragrances and more recently men’s shoes. It appears the current owners, TowerBrook investment fund, which purchased the company in 2006 have been seeking a buyer for almost a year. An initial offer to LVMH was turned down and the company’s founders and CEO are now looking to raise 575 million euros for a buy back.