Exor is to invest €541 million (£465 million) to become a shareholder in Christian Louboutin, in a move that will help the luxury shoe retailer expand.
Exor is a holding company controlled by the Agnelli family that owns stakes in businesses such as Ferrari and The Economist Group. The latest deal will see it become a 24% shareholder in the red-soled stiletto maker, alongside the founders.
Designer Christian Louboutin founded his eponymous label in Paris in 1991 with co-founder Bruno Chambelland. Today the company has around 150 directly operated stores in 30 countries, as well as wholesale partnerships and a online business.
The shoe firm and Exor said there is “excellent growth prospects” from the footwear ranges, and the brand “is well positioned to become one of the world’s preeminent luxury players”.
The pair added: “There is significant scope to develop the Christian Louboutin brand’s presence, notably via further geographic expansion, particularly in China. The company will continue to develop its multi-channel distribution strategy, not least by extending its existing digital and ecommerce platforms.”
Louboutin said: “Exor is a company with a steady long-term focus and a strong entrepreneurial culture which, with my partner Bruno, we are also very attached to and where we fully recognize ourselves.”
The transaction is expected to close in the second quarter of 2021.
