Exor (OTC:EXXRF). is one of the most prominent holding companies in the world. The family-controlled holding company notably owns stakes in football team Juventus F.C., auto manufacturers Stellantis and Ferrari (NYSE:RACE), and international newspaper The Economist.
Exor's revenues place it in the top-30 largest companies in the world, ahead of companies such as Ford (NYSE:F), Microsoft (NASDAQ:MSFT), Costco (NASDAQ:COST) and JPMorgan Chase (NYSE:JPM).
Exor unveiled its latest investment yesterday, announcing it has acquired a 24% stake in global luxury brand Christian Louboutin, which is known for its iconic red sole women’s shoes, for €541 million. Exor's investment will enable it to nominate 2 of the 7 members of Christian Louboutin's Board of Directors as Exor says the company is "poised to capture significant new opportunities."
The investment is intended to accelerate the next phase of development for Christian Louboutin, which was founded in 1991 and has since expanded into men's footwear, leather goods & accessories, and beauty. Christian Louboutin has an extensive footprint, with 150 directly operated retail stores located in 30 countries, a global network of wholesale relationships and e-commerce offerings.
"I have admired over the years Christian's talent in creating one of the world's great, independent global luxury brands," Exor Chairman and CEO John Elkann said. "Today, we're very excited to be joining him, Bruno and their fantastic team to work together to accelerate the development of this ambitious company."
Exor believes Christian Louboutin could become one of the world's top luxury brands by further expanding geographically, especially in China. Christian Louboutin will continue to build out its distribution channels, with a focus on expanding its digital and e-commerce platforms.
"It was important for me, and for the members of our company, that in order to write a new page in the history of our Maison, the partner with whom we would associate should respect our values, be open minded and should have an ambitious, young dynamism," Christian Louboutin founder Christian Louboutin said. And so it became clear that Exor would be the ideal partner with whom we would continue the Louboutin adventure, which began just 30 years ago."
Exor's deal for a stake in Christian Louboutin is the latest addition to a portfolio that contains investments in some of the most iconic names.