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Towerbrook appoints banks to review Jimmy Choo

Investment banks Goldman Sachs and Morgan Stanley have been appointed to advise Jimmy Choo-owner Towerbrook Capital on its strategic review of the premium footwear brand and retailer, it has been confirmed.

The private equity group is reported to have asked the banks to evaluate options for the brand including possible initial public offering or sale, and new partnerships.

Towerbrook acquired a majority stake in the luxury footwear brand from private equity firm Lion Capital in 2007, in a deal valuing Jimmy Choo at £185m.

It was the third time the brand, founded by designer Jimmy Choo and Tamara Mellon, then Vogue accessories editor, in 1996, has been bought by a private finance house. Mellon remains president of the brand.

Jimmy Choo has more than 110 stores worldwide and has seen sales grow by an average of 30% per year since 2001.

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