Jimmy Choo steps into £21m

SHOE DESIGNER Jimmy Choo is to expand his empire to include luxury goods such as leather, spectacles and perfume. His company, whose clients include Nicole Kidman, Jennifer Lopez and Victoria Beckham, has struck a deal with Equinox Luxury Holdings, worth an estimated £21m.

The deal, which involves buying out Choo's 50% stake, will result in more capital being invested into Jimmy Choo by the private equity backed company.

Robert Bensoussan, the new chief executive of Jimmy Choo, plans to expand the shoe empire from four British stores to up to 25 in five years. He will be giving management assistance to Jimmy Choo president Tamara Mellon who helped launch the firm's successful ready-to-wear line five years ago.