Last Updated on 23rd May 2011

It’s been common knowledge for a while now that luxury footwear brand Jimmy Choo has been put up for sale by its owner TowerBrook Capital, but after a long and daunting process the Choo franchise has finally been sold.

Luxury goods group Labelux has reportedly bought the Jimmy Choo label for an estimated £525.5 million, although official figures haven’t yet been released, but it’s a massive increase in price considering TowerBrook originally bought the company for £225 million back in 2007.

“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 I know shares our values and passion and seeks ambitious growth in the luxury industry,” said Tamara Mellon.

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“This is wonderful news for the women who are, or who aspire to become, part of the Jimmy Choo lifestyle.”

Labelux also own Bally and plan to help the Choo brand expand in the fast-developing Asian market, reports Vogue UK.

“Labelux is really complementary to Jimmy Choo with its focus on luxury fashion, accessories and jewellery,” said Jimmy Choo ceo Joshua Schulman. “We look forward to partnering with them on our [aggressive] growth plans.”

We can’t wait to see what’s next.

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