Luxury shoemaker Jimmy Choo has appointed Joshua Schulman as its new chief executive. Schulman joins the company from Kenneth Col e, and has also held senior positions at Yves Saint Laurent and Gucci. He replaces Robert Bensoussan, who held the role of chief executive since 2001 and is leaving to work on other luxury goods ventures with Towerbrook.

Schulman’s arrival coincides with a new phase for the company, which was co-founded by Tamara Mellon. Earlier this year, private equity firm Towerbrook took a majority stake in Jimmy Choo valued at £185 million. Under its new ownership, the company should become a £1 billion business within the next five years. The brand plans to expand its product offering – a Jimmy Choo eau de toilette is in the pipeline – and will continue to expand abroad with stores opening across Asia.

Mellon will remain a significant shareholder and president of the company.