Creations by French shoe designer Christian Louboutin on display in Paris, France, February 21 2020. Picture: REUTERS/BENOIT TESSIERItaly’s billionaire Agnelli family on Monday agreed to buy a stake in French shoe and bag maker Christian Louboutin for €541m, expanding in the luxury industry.
Under the leadership of John Elkann, the Agnelli family’s investment company has been diversifying its investments in recent years as the founders of Fiat Chrysler expand beyond the car industry. Linking up with Louboutin, known for its signature red-soled women’s shoes, follows Exor’s €80m investment in Chinese luxury brand Shang Xia.
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