Deals wrap: Jimmy Choo sold to Labelux
Upscale British shoemaker and retailer Jimmy Choo was bought by luxury goods group Labelux from TowerBrook Capital Partners, the companies said.
The companies did not disclose terms of the deal, but two sources familiar with the deal said it was worth about $812 million.
The deal, according to Footwear News, will help Jimmy Choo makes inroads into the Asian market thanks in part to Bally’s strong presence in the area. Labelux purchased Bally’s in 2008 but added that the two brands will operate independently.
DealBook noted the Choo deal is just the latest in recent intense activity in the luxury industry including LVMH’s recent takeover of Bulgari, Prada’s impending Hong Kong IPO and Hermes selling it’s stake in Jean-Paul Gaultier to Puig.
Investors, analysts and pundits took the weekend to take a step back to see what went right and what went wrong with LinkedIn’s IPO.
Felix Salmon shares not only his take on the IPO, but brings together some differing viewpoints and why LinkedIn’s offering happened the way it did.
Tom Petruno of the Los Angles Times said one of the biggest winners of LinkedIn’s massive IPO is the Federal Reserve.
Finally U.S. investment fund Lone Star will become the top shareholder in Tokyo Star Bank when Japanese private equity firm Advantage Partners relinquishes ownership due to trouble repaying debt, two people with direct knowledge of the matter said.
The transaction will bring Tokyo Star back under the umbrella of Lone Star, which had taken the mid-sized lender public in 2005 and sold its remaining stake to Advantage Partners in 2008 near the height of a leveraged buyout boom.