Jimmy Choo Out of the Race to Buy Back His Namesake Label

Photo: ChinaFotoPress/2009 ChinaFotoPress

Choo had declared his interest in buying Jimmy Choo, which he hasn't been involved with since a falling out with Tamara Mellon, a co-founder and chief creative officer, in 2001. But new reports have him out of the race for private equity group TowerBrook Capital's stake in the company. LVMH, however, is said to be in the running. TowerBrook expects to sell the brand for about $653 million to $817 million — more than doubling what they paid for it four years ago. [British Elle]