Jimmy Choo bought for $800 million

Jimmy Choo, the luxury shoemaker has been bought by Austrian luxury goods company Labelux.

Labelux will be buying Jimmy Choo from TowerBrook Capital Partners, which itself bought the company in 2007 for £185 million.

Last year Jimmy Choo, which was founded in 1996, reported net sales of £150 million.

I has been confirmed that co-founder and Chief Creative Officer of Jimmy Choo, Tamara Mellon, will remain in her current position, as will Chief Executive Joshua Schulman. Yesterday the New York Times cited sources stating that Jimmy Choo had been bought for $800 million.

The deal is expected to be completed in June.