Amsterdam-based Exor, one of Europe’s leading family-controlled holding firms, and the namesake brand founded by French-Egyptian fashion designer Christian Louboutin recently announced a partnership to accelerate the next phase of the latter’s development whereby Exor will invest €541 million to become a 24 per cent shareholder in Christian Louboutin.

Exor will nominate two of the seven members of the company’s board of directors, a press release from Exor said.

Founded in 1991, Christian Louboutin has grown to become one of the leading names in global luxury, famous for its signature red sole women’s shoes and 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.

Fibre2Fashion News Desk (DS)

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