Jimmy Choo aims to bid for brand he created

FASHION designer Jimmy Choo has hired bankers to advise him on a £500 million bid for the eponymous shoe chain he founded more than a decade ago.

Choo is understood to be looking for a private equity backer to help him in his bid, and has appointed investment bank Daniel Stewart to advise him on a deal.

TowerBrook Capital Partners, which holds a majority stake in the group, decided to put it up for sale last year and the auction due to kick off later this month.

But Choo is expected to face stiff competition for the business, as a number of private equity firms are understood to have expressed an interest in acquiring it, including TPG Capital.

French luxury goods firm LVMH, which owns Louis Vuitton luggage and Veuve Clicquot champagne, is also thought to be considering tabling a bid for the shoe group.