Luxury shoemaker Jimmy Choo has been bought by a US private equity firm working with the firm’s management team, including British co-founder Tamara Mellon. TowerBrook Capital Partners are said to have paid £185 million for the brand which has famous customers such as Madonna and Beyonce.

The brand has more than 60 stores worldwide, including in the US, Hong Kong, Singapore and Japan. Malaysian-born Jimmy Choo sold out in 2001 and is no longer in the business.