In case you spent most of the long weekend basking in bonfires and ignoring the Internet (and if you did, tell me your secret), you may have missed the part where Jimmy Choo was sold (!!!) to Labelux.
Oh. My. God. …Right?
Well, it’s safe to assume that the name’s not going to change anytime soon, but what does an old-fashioned company buy mean?
First, the Jimmy Choo label was previously owned by TowerBrook who originally purchased the company for 225 pounds in 2007 – and just sold it for 525.5. But why? (‘WHY?!’ you ask?) CEO Joshua gave WWD an explanation:
“Labelux is is really complimentary to Jimmy Choo with its focus on luxury fashion, accessories and jewellery. We look forward to partnering with them on our growth plans.”
Now, keep in mind that the label’s “growth plans” include going public: an announcement that got some major attention in the early part of the month, which would add competition to bidders, and as explained by Vogue UK “could cause the shortlisted firms to increase their offers”.
And here we are today. So to those of you worried about Jimmy Choo not having a firm grasp on the wide world of shoes, fear not: if the recent buy is any inclination, their stock’s on the rise, and so seems their popularity.
Just ask Carrie Bradshaw.