Tea and Jimmy Choo's

Luxury shoe brand Jimmy Choo has been bought by Hicks Muse, the owner of Typhoo tea and Weetabix, for approximately GBP101 million. A spokesman for Hicks Muse told The Times that the company has no intention of letting standards at Choo slip.

The luxury brand was founded by Tamara Mellon and Jimmy Choo in 1996 with a GBP150,000 loan from Tamara's father. Choo sold his 51% stake to chief executive Robert Bensoussan and Phoenix Equity Partners in 2001 for GBP10 million. Since then, the company has increased five times in value. Sales are expected to reach GBP40 million this year.

Benoussan, Choo, Choo's niece Sandra Choi and Mellon will continue to work for the company.