JAB Takes Control of Jimmy Choo-Owner Labelux as CEO Steps Down

JAB Holdings plans to run its luxury business directly, bringing brands including Jimmy Choo and Belstaff under the management of the investment arm of the billionaire Reimann family.

Reinhard Mieck will step down as head of the business, Labelux, JAB said in an internal memo obtained by Bloomberg News. Labelux, which also owns bagmaker Zagliani and Bally, has completed its restructuring objectives and “is no longer necessary,” the company said.