Jimmy Choo's Owner Picks Goldman Sachs, Morgan Stanley to Review Options

TowerBrook Capital Partners LP appointed Morgan Stanley and Goldman Sachs Group Inc. to review options for its investment in luxury-shoes and accessories maker Jimmy Choo Ltd.

TowerBrook, the buyout firm spun out of Soros Fund Management LLC, asked the banks to evaluate options including “new partnerships and accessing to alternative financial markets,” the London-based firm said in a statement today.

TowerBrook bought a majority stake in Jimmy Choo from London-based private-equity firm Lion Capital LLC in 2007. The deal valued the company at 185 million pounds ($286 million) and marked the third time the fashion brand, founded in 1996, was acquired by a private-equity investor.

“Jimmy Choo has continued to evolve as a successful, innovative and high-value business, delivering record revenue growth and profitability,” Ramez Sousou, TowerBrook co-chief executive officer, said. “We are proud to be associated with this brand and team and remain highly committed shareholders.”

Options for the London-based designer include a sale and an initial public offering, people with knowledge of the plans said previously. Jimmy Choo, whose shoes are worn by celebrities such as actress Jennifer Lopez, may attract interest from strategic bidders and other buyout firms, the people said.

The company has more than 110 stores worldwide, having recently opened locations in Singapore, Dubai, Sydney and Macau, according to TowerBrook’s website. Sales have grown 30 percent a year on average since 2001 as it expanded into bags, leather goods, scarves and sneakers.

To contact the reporter on this story: Anne-Sylvaine Chassany in Paris at achassany@bloomberg.net

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