Agnelli family has bought 24% of Christian Louboutin
A new investment in fashion for the holding Exor
Fashion
March 8th, 2021
March 8th, 2021
The expansion in the fashion business of Exor continues, the company of the Agnelli family which also includes Ferrari and Juventus. The holding, which also controls the Gedi group that owns La Repubblica and L'Espresso, has in fact acquired 24% of Christian Louboutin for 541 million euros. The transaction, which will be closed in the second quarter of 2021, will allow Exor to appoint two of the seven members of the company's board of directors.
"Exor's commitment to building great companies makes it an excellent partner for Christian Louboutin at a time when this established brand is poised to seize important new opportunities," reads a statement. The intentions of the holding are to further develop the brand in China by also pursuing its multi-channel distribution strategy on digital and e-commerce platforms.
Just a few months ago, Exor had invested $80 million to become the majority shareholder of Shang Xia, the Chinese luxury brand founded by Hermès and designer Jiang Qiong Er. The Agnelli family's interest in the world of fashion is therefore clear, especially for its developments in the Chinese market.
