Tamara Mellon, the New York-based co-founder of Jimmy Choo, is receiving $50 million in Series C funding, led by the London-based investment firm Centricus, for the development of her own eponymous footwear brand. Previous investors, such as NEA and Quadrille Capital, also took part. The women's luxury footwear brand, which has now raised $87 million in capital, says the new funds will go toward improvements in manufacturing, a retail expansion, a 50 percent increase in the staff (from 40 to 60 people) and other investments. Tamara Mellon co-founded Jimmy Choo in 1996 but sold her stake in that firm in 2011 for an estimated $135 million. Two years later, she co-founded her eponymous brand with its current chief designer, Tania Spinelli, and its current chief executive, Jill Layfield. Then, in late 2015, the brand filed for Chapter 11 bankruptcy in the U.S., gaining protection from creditors for Mellon's personal assets, including the proceeds from the sale of her stake in Jimmy Choo. NEA, a San Francisco-based venture capital firm, provided a bailout of $10 million. Mellon herself contributed a further $2 million, which was matched by other investors. In September 2016, the brand reported strong growth for 2018, with sales up by 136 percent and mobile traffic up by 80 percent year on year. In fact, a single day in October 2018 brought in $1 million in sales. The brand has opened its first physical store, in Los Angeles, and added handbags and sneakers to its product lines.

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