 "Louboutin")
Italy’s billionaire Agnelli family agreed to buy a stake in French shoe and bag maker Christian Louboutin for 541 million euros ($640 million), expanding in the luxury industry.
The family’s Exor holding company said Monday it’s acquiring a 24% stake and sees growth potential for the brand in China and in e-commerce. Exor will nominate two of Louboutin’s seven board members.
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,
