In the wake of Tamara Mellon's surprising departure from Jimmy Choo, the brand she helped found and develop, a new report suggests the talented creative executive may be embarking on a new project of her own.
WWD cites "industry sources in Europe" in its new report that Mellon is angling for a lifestyle brand of her own in the mold of Tory Burch and Tom Ford. From the sounds of things, the new project is part of a drive that's both personal and financial for Mellon:
Another industry source said Mellon’s next step should come as no surprise: The source said her ambitions had always stretched beyond Choo, and that money — and a high profile — are important to her.
In addition, after Jimmy Choo was sold to the luxury goods group Labelux in May, Mellon and other managers became salaried employees after cashing in their shares. And for those who have pocketed millions following private equity ownership, returning to life as a wage slave is often unpalatable.
Mellon is a charismatic personality possessed of a strong entrepeneurial spirit, with a net worth that has been estimated to be more than $200 million, so it stands to reason that she'd be looking to embark on a new creative project instead of accepting a post at the top of an established brand. The question, however, is whether said new brand would embrace the smaller luxury set or the lower-price masses. To be fair, Choo was a brand whose core identity was based in luxury, but its larger value lay in its name recognition among the masses. Mellon, herself, was not so snobby as to shy away from collaborations with mass-market brands like, for example, H&M and Ugg.