Jones Group Makes Bid for Jimmy Choo
Could Jessica Simpson and Jimmy Choo soon be part of the same fashion family?
Possibly. The Jones Group, which runs part of Simpson's fashion empire as well as Nine West and Rachel Roy, is the latest bidder to express interest in buying the luxury footwear company from TowerBrook Capital, Dow Jones reports.
The fashion group will face TPG and joint bidders Investcorp and Labelux Group in the fight for an 83 percent stake in the brand, which is estimated to be worth between £400 and £500 million (approximately $655.4 million to $819 million U.S.).
Though namesake Jimmy Choo was rumored to be making a bid, he has yet to do so.
With new ownership will come new challenges, including expanding the label into Asia.
"As with all current luxury deals, the driver behind an acquisition will be to expand the Jimmy Choo brand in Asia and, in particular China, which is the key engine for growth in the region," Dow Jones reports. "There is also the opportunity to extend the Jimmy Choo brand to men's shoes as well as to boost sales of handbags."
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