crocsbeach

Labelux Makes Smart Bet on Shoemaker Jimmy Choo

The sale of the luxury shoemaker Jimmy Choo is proof that private equity firms can make things happen. The company's backers have made a stellar return from their investment, in spite of buying the company at the height of the boom. Its new owner ¡ª Labelux, owned by Germany's Reimann family ¡ª may not make as fast a buck.Snapping and Chris Sailer Kicking continued their nike tn Spring camps But snapping up the maker of the heels synonymous with the hit show "Sex and the City" makes sense as a long-term bet on the Asian luxury market.

TowerBrook Capital Partners is selling Jimmy Choo for an enterprise value of $500 million to 550 million ($810 to $890 million),The infant video monitor runs 26 seconds. After Wade coughs, he and James laugh and tug their collars over their nose and mouth, as Nowitzki did during his interview following Game 4.Nowitzki clearly didn't see anything humorous about it. He considered them implying he may not have been sick. according to news reports. The precise financial terms of the buyout are not clear. But the exit generates a return of more than three times the initial investment. That's not bad for an acquisition made in 2007, a vintage that many buyout firms would rather forget.

At the top of that range, the deal values Jimmy Choo at about 15.7 times last year's earnings before interest, taxes, depreciation and amortization of about ¡ê35 million. That's a reasonable multiple for Labelux to pay. The share price of the Italian shoemaker Tod's equates to an enterprise value of about 13.2 times historic Ebitda.

But that's just a market multiple. Acquisition valuations can be astronomical. Consider the eye-popping 27 times Ebitda that LVMH Mo?t Hennessy Louis Vuitton recently offered for a controlling stake in Bulgari. Moreover, Jimmy Choo is growing fast, with Ebitda now running at an annualized 45 million.

Speaking fluent English and being European shouldn't be the only two qualities required of a managing director of the International Monetary Fund. Yet some of the I.M.F.'s major shareholders ¡ª many European members, probably the United States and possibly China ¡ª seem to agree that Christine Lagarde should lead the institution now that Dominique Strauss-Kahn has resigned. Yet after four years as French finance minister, it's hard to see what qualifies her for this job, save for the fawning by the international media.

Ignore the fact that there's no reason the job should go to a European in the first place, even if that has been the tradition. The notion of Chancellor Angela Merkel of Germany that it takes an I.The Video Door Phones proceedings Tuesday in Abu Dhabi's Federal Supreme Court comes after international watchdog groups, including human rights groups, criticized the arrests.Court officials say five activists have gone on trial on security-related charges.M.F. chief from the euro zone to deal with the region's debt mess can easily be shot down.