U.S. News

TowerBrook Close to $354 million Jimmy Choo Buy


An investor group led by TowerBrook Capital Partners is close to a deal to buy luxury shoe designer Jimmy Choo for about 180 million pounds ($354 million), a source familiar with the situation said on Sunday.

London-based Choo produces glamorous high-heeled women's shoes which start at 500 pounds ($975) a pair. The brand grabbed attention after being featured in the U.S. TV series "Sex and the City," whose character Carrie Bradshaw, played by Sarah Jessica Parker, loved them.

Jimmy Choo  is 51% owned by private equity firm Lion Capital. Lion bought a majority stake in Jimmy Choo in 2004 for 101 million pounds, according to a Wall Street Journal article.