Luxury shoe and fashion entrepreneur Tamara Mellon has revealed she quitting her own footwear brand Jimmy Choo.
In an astounding turnaround Ms Mellon, who launched the company back in 1996 and brought it to celebrity status, has quit her role alongside Joshua Schulman (the current chief executive of Jimmy Choo) whom are both said to be leaving on amicable terms with the company.
The luxury footwear brand will now continue to be run by Labelux who acquired the company for £500 million just over 5 months ago by the wealthy German family, Reimann. Ms Mellon who is the ex-accessories editor for Vogue magazine launched Jimmy Choo 15 years ago beside the aforementioned Malaysian-born cobbler from Hackney after meeting him via work.
The celebrity cult brand which is adorned by many and worn throughout every red capret event.
Ms Mellon founded Jimmy Choo back in1996 with a £150,000 loan from her father Tommy Yeardye and has since generated a multi-million pound business, first selling shares to Lion Capital and then onto TowerBrook in 2007 for £185 million.
Reinhard Mieck, Chief Executive Officer of Labelux, has commented that: “Jimmy Choo is an outstanding brand with enormous growth potential and the ability to deliver material growth synergies across our group. Tamara and Josh created a world-class, customer-oriented business with great creative and executive depth and leave it strongly positioned to capitalise on the opportunities within Labelux. With a successful transition behind them, we respect their wish to move on to other challenges whilst being proud supporters of Jimmy Choo’s continuing success.”
Joshua Schulman, current Chief Executive Officer of Jimmy Choo, also added that, “after nearly five incredible years, I have decided to move on from Jimmy Choo. I am enormously proud to have led this exceptional team, together with Tamara, as we have transformed the company into a world class luxury brand across product categories, channels and geographies. I am confident that with Labelux’ support, the team will achieve great success in the next phase of development.”
At present Ms Mellon is not available for comment.