What is Tamara Mellon's net worth?
Tamara Mellon is a British entrepreneur and businesswoman who has a net worth of $300 million. Tamara Mellon earned her fortune as the the co-founder of the luxury brand Jimmy Choo. They launched what would become an empire in the mid-1990s using money borrowed from her father. She is also the founder of her eponymous fashion label, Tamara Mellon. Throughout her illustrious career, Mellon has played an essential role in revolutionizing the luxury shoe market and has been a fierce advocate for female empowerment and gender equality in the business world. In 2007 Mellon was listed as the 751st richest person in the U.K. and has also been ranked the 64th richest woman in Britain. In 2010 she was appointed Officer of the Order of the British Empire.
Early Life
Tamara Yeardye was born in London, England on July 7, 1967. Her father Tom Yeardye was Rock Hudson's stunt double and would later co-found the Vidal Sassoon salon. Her mother Ann was a Chanel model. Growing up in a well-to-do household, Mellon had access to the world of high fashion from a young age, sparking her lifelong interest in the industry.
In 1976, the family moved to Beverly Hills, California, into a mansion next door to Nancy Sinatra. Mellon attended Heathfield School, a prestigious all-girls boarding school in Ascot, Berkshire. Following her graduation, she pursued a degree in business at the Inchbald School of Design in London, where she honed her entrepreneurial skills.
Jimmy Choo
After completing her education, Mellon began her career in the fashion industry working at the British edition of Vogue magazine. During her tenure as an accessories editor, she gained valuable experience in styling and trend forecasting. The exposure to the world of luxury fashion during this time allowed her to recognize the potential in the high-end shoe market.
In 1996, Mellon co-founded Jimmy Choo Ltd with Malaysian cobbler Jimmy Choo. With her keen eye for design and Choo's exceptional craftsmanship, they created a luxury shoe brand that quickly gained a dedicated following among celebrities and fashion enthusiasts worldwide. Mellon's innovative approach to marketing, including securing high-profile clients and celebrity endorsements, catapulted the brand to global fame. The company expanded its product line to include handbags, accessories, and men's shoes under Mellon's leadership.
By 2001 the company had more than 100 wholesale clients that included Saks Fifth Avenue, Bergdorf Goodman, Harvey Nichols, and Harrods. The company has retail stores in New York, Las Vegas, Beverly Hills, London, Washington D.C., Moscow, Milan, and Hong Kong.
In 2001, Mellon and her partners sold a significant stake in the company to Phoenix Equity Partners. The new influx of capital helped to propel the brand's international expansion. In 2004, Jimmy Choo was sold again, this time to the private equity firm Lion Capital. Despite these changes in ownership, Mellon remained in her role as Chief Creative Officer and continued to guide the company's creative vision.
Jimmy Choo's success caught the attention of the luxury goods conglomerate Labelux Group, which acquired the company in 2011 for a reported £525 million. Following the acquisition, Mellon announced her departure from the company in November 2011.
In 2004 the brand was acquired by Lion Capital.
In 2011 the brand was acquired by Labelux.
The company went public in 2014 and then was taken private in a 2017 acquisition by Michael Kors in a deal worth $1.3 billion.
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Tamara Mellon Brand
In 2013, Mellon launched her eponymous luxury brand, Tamara Mellon. The brand offers a range of high-quality shoes, handbags, and accessories, characterized by bold designs and innovative styles. One of the key differentiators of her new venture is the direct-to-consumer business model, which allows for greater control over pricing, design, and production.
Mellon has been open about the challenges she faced while launching her brand, including a high-profile bankruptcy in 2015. Despite the setback, she successfully restructured the business and has continued to grow her brand, focusing on customer-centricity and embracing the digital landscape.
In addition to her work in the fashion industry, Mellon has authored a memoir, "In My Shoes," published in 2013. The book chronicles her personal and professional journey, detailing her experiences in building Jimmy Choo and the lessons she learned along the way.
Personal Life
She was formerly married to banking heir Matthew Mellon. They met at a narcotics anonymous meeting while they were both recovering from addiction. They married in 1999 on a grand estate in England. The wedding was attended by Hugh Grant, Elizabeth Hurley and a number of other high profile celebrities. They had a daughter in 2002. They divorced in 2005. Tragically, Matthew Mellon never recovered fully from his addictions and ended up dying at a drug rehab center in April 2018.
Tamara has been dating entertainment/technology executive Michael Ovitz in recent years. In 2015 they announced their engagement, though technically/legally Michael is still married to his first wife Linda.
Real Estate
In 2008 Tamara paid $21 million for a mansion on 95th street in New York City. She listed this home for sale in 2014 for $34 million. Unfortunately there weren't any takers at that price. Tamara ultimately accepted $19.25 million in April 2023.
