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Distributed: May 23, 2011

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Sydney, May 23, 2011 (Global Fashion Wire) - Labelux has recently announced its intent to acquire luxury retailer Jimmy Choo, estimated worth of over GBP500 million. Jimmy Choo senior management have stated its full support of the transaction, with Tamara Mellon Founder and Chief Creative Officer commenting, "I am immensely proud of all we have achieved over the last fifteen years and delighted we are to be part of Labelux, a partner who I know shares our values and passion and who seeks ambitious growth in the luxury industry". Tamara Mellon and CEO Joshua Schulman will remain with Jimmy Choo, the transaction is expected to be complete by the end of June 2011.

Labelux's current portfolio of brands consist of Swiss luxury brand Bally, London based jeweller Solange Azagury-Partridge, New York apparel brand Derek Lam and Italian accessories label Zagliani.

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