Hasta La Ideas

Another big fashion brand has been handed off between financial groups. The luxury shoe company, Jimmy Choo, which was founded by its namesake in 1996 but has been owned by several different groups since it was originally sold back in 2001, will now be owned by the Labelux Group, the Austrian company who already owns brands like Bally, Derek Lam and Zagliani. Choo was sold by TowerBrook Capital Partners, who owns a mishmash of companies like liquor retailer BevMo, movie chain owners Rae Motion Pictures, and the Autodistribution Group, which is “the leading independent distributor of spare parts for cars and trucks in Europe.” Reuters reports that the sale “was worth about $812 million” and that the move to the decidedly more fashion-focused Labelux will help Choo make “inroads into the Asian market thanks in part to Bally’s strong presence in the area.”

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