Shoemaker Louboutin sells 24% stake

Author: article author: ReutersMon, 2021-03-08 15:36
ROME: The Agnelli family’s investment holding company Exor will buy a 25 percent stake in luxury shoemaker Louboutin for 541 million euros ($643 million), the two companies said on Monday.
“The partnership (is) to accelerate the next phase of (Louboutin’s) development,” the joint statement said, adding that Exor was a perfect fit for Louboutin “at a moment when the brand is poised to capture significant new opportunities”.
Exor will nominate two of the seven members of Louboutin’s board of directors, alongside the firm’s founders, the groups said.Main category: Business & Economy
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