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.