Patrick Cox, the Canadian born London-based shoe designer has put his shoe emporium up for sale. The price tag is a hefty £10m. Cox enjoyed enourmous success in the early 90’s with his famous loafer outselling the one million mark. The intellectual property rights to the loafer design, however, are ownbed by Italian footwear manufacturer Ruggeri and a second diffusion line called PC’s is licensed out. One observer said: “The problem is that a lot of the success and volume sales are not owned by the company.”
Patric Cox is listed at Companies House as Cobblers. It has signed actress Elizabeth Hurley to front its spring advertising campaign and is owned by Patric Cox, along with managing director Peter Sells and entrepreneur Richard Thomson, who took a state in the business early last year.