Big changes are afoot at Jimmy Choo. The company is celebrating a milestone 15th anniversary this year--but in a surprising turn of events, Choo co-founder and chief creative officer Tamara Mellon--who was also the face of the brand--is leaving the company. Mellon isn't the only one leaving, either. Joshua Shulman, the CEO, has also resigned, WWD is reporting. This all comes in the wake of the footwear company's acquisition by Labelux last May.
On the selling block for the past year or so, Jimmy Choo has been bought from London-based private equity firm TowerBrook Capital by Labelux, a burgeoning luxury group which owns brands like Bally, Derek Lam and Solange Azagury-Partridge. Labelux reportedly paid between ₤500-550 million--around $850 million--for the high-end shoe label. According to a statement released by the Vienna-based firm, Jimmy Choo founder and chief creative officer Tamara Mellon and CEO Josh Schulman will stay on board, and Mellon will take a stake in the new company being formed by Labelux.