Deals
Italy’s Agnelli Family Expands in Luxury With 24% Stake in Louboutin
- Exor investment company to pay $640 million for stake
- French shoemaker has growth potential in China, Exor says
A model wears Louboutin shoes
Photographer: Tristan Fewings/Getty Images
This article is for subscribers only.
Italy’s billionaire Agnelli family agreed to buy a stake in French shoe and bag maker Christian Louboutin for 541 million euros ($640 million), expanding in the luxury industry.
The family’s Exor holding company said Monday it’s acquiring a 24% stake and sees growth potential for the brand in China and in e-commerce. Exor will nominate two of Louboutin’s seven board members.