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Christian Louboutin sells 24% stake to Ferrari owner

Mar 9, 2021 France
Christian Louboutin sells 24% stake to Ferrari owner
Holding company Exor and Christian Louboutin announced a partnership whereby Exor will invest 541 million euros to become a 24% shareholder in Christian Louboutin, alongside the founders and will nominate 2 of the 7 members of the Company’s Board of Directors
Commenting on Exor’s partnership with Christian Louboutin, John Elkann, Chairman and Chief Executive said: “I have admired over the years Christian’s talent in creating one of the world’s great, independent global luxury brands. Today, we’re very excited to be joining him, Bruno and their fantastic team to work together to accelerate the development of this ambitious company. We share the same family spirit, culture and values, which are the basis of a strong partnership. Christian Louboutin’s extraordinary creativity, energy and unique vision are precisely the qualities needed to build a great company.”

“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. It was important for me, and for the members of our company, that in order to write a new page in the history of our Maison, the partner with whom we would associate should respect our values, be open minded and should have an ambitious, young dynamism. And so it became clear that Exor would be the ideal partner with whom we would continue the Louboutin adventure, which began just 30 years ago. We are, as is my entire team, very happy with this union and we would like to thank John and the Exor team for having taken such great care to understand the human history of our Maison in order to be able to accompany us well for the decades to come”, commenting Christian Louboutin’s Founder.

Founded in 1991, Christian Louboutin has grown to become one of the leading names in global luxury, world famous for its signature red sole women’s shoes and also acknowledged for having successfully diversified its business into men’s footwear, leather goods & accessories, and beauty. Christian Louboutin has an extensive international retail presence via some 150 directly operated retail stores located in 30 countries, a worldwide network of premium wholesale relationships and has been rapidly developing its e-commerce capabilities.

The transaction is expected to close in the second quarter of 2021.

Image credits: thelafashion.com

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