Jimmy Choo wants his brand back. And is prepared to pay upwards of $700 million to accomplish his goal.
Choo sold his namesake label in 2000, and hasn’t been involved with the Jimmy Choo brand ever since. The brand is owned by TowerBrook, a private equity firm. Co-founder Tamara Mellon owns 15% of the business. TowerBrook has been reportedly looking for buyers for the brand over the past year.
Choo will need to round up investors if he is to succeed. The growth of the luxury market in Asia could be a potential source of funds, especially for a brand with an Asian name.