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Tamara Mellon prepares to sell the Jimmy Choo label

Global footwear brand phenomenon, Jimmy Choo, have reportedly approached investment banks about “strategic options” for the business. The sale of Jimmy Choo will likely value the brand at £500m.

Established by ex- Vogue Accessories Editor, Tamara Mellon, and Malaysian cobbler Jimmy Choo in 1996, the brand Jimmy Choo, began with a £150,000 loan from Mellon’s father, Tommy Yeardye, co-founder of the Vidal Sassoon hair products empire. Mellon, who still retains a fifth of the company and remains president, opened the first Jimmy Choo boutique in New York, which was quickly followed by a second store in Los Angeles in 1999.

Mrs Mellon, who was recently awarded an OBE in the Queen’s Birthday Honours List for her services to business and charity, has taken less than two decades to turn a small bespoke shoemaker into a major global brand. Today, Jimmy Choo has 100 stores in 32 countries, has successfully expanded into handbags and eyewear and retains a loyal celebrity following, helped along by the likes of Sex and the City.

TowerBrook, Jimmy Choos private equity group, and Tamara Mellon have both declined to comment.

Jimmy Choo unveil collection for H&M

Next month, the average high street shopper can purchase their very own pair of Jimmy Choo’s, as today hype (and if past collections are anything to go by- mass hysteria) was built with the unveiling of the collection by H&M.

Consumers are generally expected to fork out an extortionate amount to get their hands on the coveted heels, a staunch favourite amongst A-listers (and Carrie Bradshaw), with the average pair costing £500.

But for a credit-crunch friendly-ish £79.99, shoe-lovers can bag a bargain just in time for the party season, as the collection hits shelves on November 14.

The Jimmy Choo for H&M range features more than 40 pieces including clothing as well as footwear and handbags. Prices range from £14.99 for statement jewellery, through to £149.99 for a leather dress and £179.99 for thigh high boots. Key footwear styles include red patent strappy heels, studded pumps (£49.99) and zebra print sandals (£79.99).

There is even something for the men as a selection of ankle boots, bags, wool blazers, leather biker jackets, silk and cashmere mix sweaters, shirts and trousers will also be available in store.

Jimmy Choo was co-founded in 1996 by Malaysian-born Choo and former Vogue accessories editor Tamara Mellon. It has since become a major global upmarket brand with stores on six continents. Mellon, who set up the designer empire with a £150,000 loan from her father, said: ‘It’s such a privilege to design a collection to appeal to fashion savvy, street smart women.

‘Jimmy Choo will bring to H&M a sophisticated, fashion forward, accessible and glamorous collection – the perfect party pieces to wear out at night.’

The partnership is the latest coup by H&M, who have cashed in on collections by designers including Stella McCartney, Matthew Williamson, Madonna and Kylie Minogue.