Exor to Invest EUR541 Million for 24% Stake in Christian Louboutin
By Joshua Kirby
Exor NV said Monday that it has agreed a deal to take a 24%
stake in French fashion house Christian Louboutin.
The Amsterdam-listed investment company said it will invest 541
million euros ($644.5 million) in Christian Louboutin, known for
its premium women's footwear. Under the deal, Exor will nominate
two of the seven members of the company's board of directors.
Christian Louboutin has around 150 retail stores in 30
countries, as well as a global wholesale network and growing
e-commerce capabilities, Exor said, adding that the brand has scope
for further expansion, notably in China.
The transaction is expected to close in the second quarter.
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(END) Dow Jones Newswires
March 08, 2021 02:35 ET (07:35 GMT)
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