BACK IN BUSINESS: JIMMY CHOO DESIGNER WHO WAS MADE BANKRUPT

AS she promised back in December, Tamara Mellon has emerged from a 60-day period of Chapter 11 bankruptcy protection, putting her Tamara Mellon Brand (TMB) back on the fashion landscape.

The designer and businesswoman, who made her name at Jimmy Choo before departing to establish her own empire, has secured new investors in venture firm New Enterprise Associates, which she said “allows us to transition our business model to focus on direct sales to customers via online platforms and company-operated stores,” reports WWD


The update comes as Mellon prevailed over her previous investors – David Ross, the Carphone Warehouse co-founder, former Tory trade minister Lord Marland, and Icap boss Michael Spencer. They had made a legal objection to her plans “to take control of her new fashion venture under bankruptcy protection laws”, reports The Daily Telegraph, accusing her of “mismanagement and abuse” of the company and “excessive spending and erratic behaviour”. A Delaware court, however, found in her favour, praising her “spirit and sacrifice” in order to keep her business alive.

Mellon, meanwhile has been quoted as saying her former investors have “no experience in luxury or fashion or creative industries” and “don’t know a stiletto from a Cornetto”.

“We look forward to implementing this revitalised approach, shortening the design and manufacturing process and further enhancing our mission to provide customers with the fashion they want to wear now,” she said this weekend.

 

Culled from Vogue.co.uk

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