US brand house Jones Group has become the latest party to join the bidding war for luxury footwear brand Jimmy Choo.
Jones Group, which designs, markets and wholesales 35 brands including footwear brand Nine West and mainstream womenswear brand Jones New York, has joined private equity firm TPG Capital and a joint offer from investment house Investcorp and luxury goods group Labelux in the battle to buy the label.
It has previously been reported that Jimmy Choo, the entrepreneur who founded the eponymous footwear and accessories business, and French luxury goods group LVMH were also among the bidders. However according to Dow Jones, only Jones Group, TPG Capital and Labelux are vying for the business.
Private equity business Towerbrook Capital is selling Jimmy Choo after it acquired the business in 2007 for £190m. Last year it hired Goldman Sachs and Morgan Stanley to review the business. Bids are due in mid-May.