Towerbrook to retain president
Upmarket shoe brand Jimmy Choo has been bought for£185 million by private equity firm Towerbrook Capital Partners.

Towerbrook has purchased the business from Lion Capital, with Spanish venture capitalist Gala Capital also investing in the transaction.

According to Towerbrook, Jimmy Choo founder and president Tamara Mellon 'will continue to have direct oversight of Jimmy Choo's creative direction, image and promotional activities', and will remain president of the business.

Mellon said: 'This partnership will achieve my original vision for Jimmy Choo to be one of the world's most treasured luxury brands.'

Jimmy Choo pumps, sandals and boots were glamorised by Sarah Jessica Parker in the hit series Sex and the City. Loyal customers to the brand include Gwyneth Paltrow and Nicole Kidman. A pair of boots can cost up to£1,200.