Jimmy Choo Bought by Labelux for About $800 Million

Jimmy Choo won't be going public after all, at least for now: Yesterday, the privately-held luxury group Labelux bought the company from TowerBrook Capital. Sources told the Times that Labelux paid about $800 million, although the actual price was not disclosed. TowerBrook has been shopping around for a buyer for months, at one point entertaining a bid from new J.Crew owner TPG, as well as rumored interest from LVMH and Jimmy Choo, the man himself. Tamara Mellon will remain the brand's chief creative officer and cleavage perfume model; CEO Joshua Schulman will stay on as well. The Austria-based Labelux was founded in 2007 and also owns Bally, Derek Lam, and Zagliani.