Italy’s billionaire Agnelli family is looking to acquire a 24% state in the French luxury shoe and bag maker, Christian Louboutin, OYOGist.com has gathered.
According to reports by Forbes, the Agnelli family will be investing €541 million ($643 million) in Christian Louboutin through an holding company controlled by the family.
The Agnelli family owns 53% controlling stake in Exor N.V, the holding company that is acquiring the 24% stake in Christian Louboutin.
Exor N.V will be nominating two of the seven board members of Christian Louboutin once the deal is closed. The deal is expected to close in the second quarter of this year (2021).
Known for founding popular auto manufacturing company Fiat and being the biggest share holder in luxury sports car company Ferrari, the Agnelli family is one of Italy’s richest family. The family is now investing in other industries.
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