Excite

SOLED

Every fashionista's favourite shoe label Jimmy Choo has reportedly sold for over £500 million, writes Vogue. The brand started accepting bids for the company in February this year, with many expecting the winning buyer to be LVMH group, which owns many luxury brands including Louis Vuitton and Marc Jacobs.

In fact, the lucky buyer was luxury goods group Labelux, who reportedly stumped up £525.5 million for the company. Jimmy Choo's co-founder Tamara Mellon told WWD: 'I am immensely proud of all we have achieved over the last 15 years and delighted we are to be part of Labelux, a partner [that] I know shares our values and passion and [that] seeks ambitious growth in the luxury industry. This is wonderful news for the women who are, or who aspire to become, part of the Jimmy Choo lifestyle.'

CEO of Jimmy Choo, Joshua Schulman, seems similarly happy to be working with Labelux, saying: 'We look forward to partnering with them on our [aggressive] growth plans.' Which sounds a little scary to us...

United Kingdom - Excite Network Copyright ©1995 - 2016