Elkann’s Exor will show with Louboutin shoes
Exor of the Agnelli family will also invest in Christian Louboutin's shoes by taking over 24% of the French company
Exor remakes shoes. Louboutin.
The Agnelli family holding company will take over 24% of Christian Louboutin, a French luxury company known worldwide for its red-soled shoes and leather accessories. The investment in haute couture will cost the Agnelli family a whopping 541 million. Let's go step by step.
THE EXOR INVESTMENT
Having lightened up on the car front, after the merger of FCA with PSA, in Stellantis , Exor, the holding company of the Agnelli family, has also decided to focus on French fashion and reached an agreement with Christian Louboutin.
24% OF LOUBOUTIN AT EXOR
Exor will invest 541 million euros to become a 24% shareholder, alongside its founders (Christian Louboutin, Henri Seydoux and Bruno Chambelland) and will appoint 2 of the 7 members of the company's board of directors. The closing of the transaction is expected in the second quarter of 2021.
CHRISTIAN LOUBOTIN
Founded by Christian Louboutin in 1991, the fashion company opened its first boutique on November 21 of the same year, on Jean-Jacques Rousseau street in Paris.
Over the years, the company has established itself as one of the most important names in world luxury. Having become famous for its women's shoes with an unmistakable red sole, also considered by the courts of the world to be a hallmark of the brand, it is also active in the sector of men's footwear, leather goods, accessories and beauty.
THE NUMBERS
Wide commercial presence in the world: the French company boasts about 150 owned stores in 30 countries. There are also many retailers worldwide.
THE WORDS OF JOHN ELKANN
“Over the years I have admired Christian's talent for creating one of the world's largest independent global luxury brands. Today, we are very excited to join him as we work together to accelerate the development of this ambitious company, ”commented Exor President and CEO John Elkann.
Exor, Elkann added, “shares the same family spirit, the same culture and the same values, which are the basis of a strong partnership”.
LOUBOUTIN'S COMMENT
Exor is a company “with a constant long-term orientation and a strong entrepreneurial culture to which, with my partner Bruno, we are also very attached and in which we fully recognize ourselves”, said Christian Louboutin, founder of the brand.
"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 we would associate with had to respect our values, be open and have a young and ambitious dynamism", he added.
NOT THE FIRST TIME FOR EXOR
Exor's interest in fashion is certainly not new. In fact, at the end of 2020, as Sole24Ore recalls, the company of the Agnelli family invested with Hermes International in the Chinese luxury group Shang Xia: about 80 million euros, through a reserved capital increase, to acquire the majority stake. of the company, alongside the founder Jiang Qiong Er.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/exor-a-chi-fara-le-scarpe-con-louboutin/ on Mon, 08 Mar 2021 11:11:30 +0000.