Doc Martens
Orthotic sandals and lug-soled boots aren’t your typical luxury items, but the pandemic and transition to working and socializing from home has placed renewed emphasis on products offering comfort, both physical and emotional. “Doc Martens” and “Berks” are unique for resonating across generations, from 1970s hippies to 1990s goths and Gen Z influencers.
While Louboutin’s blade-heeled shoes offer neither comfort nor nostalgia, they’re a bet on a full-throttle return to parties, office life and other long-awaited opportunities to dress up. Founded in 1991, Christian Louboutin has grown to operate 150 stores in 30 countries. Exor said it sees growth potential for the brand in China and in e-commerce.
Louboutin, 58, and his business partner Bruno Chambelland, 72, will together retain a majority stake in the company, according to a person with knowledge of the arrangement, who asked not to be identified because the matter is private. The transaction is expected to be completed in the second quarter.
The decision to sell likely came down to factors luring family-business owners across all industries to the auction block. Namely, loads of liquidity and heady markets pushing valuations skyward.
Italian publishing house Panini, maker of the popular soccer stickers collected and traded by fans around the world, is weighing a potential sale and has drawn interest from suitors including buyout firms, according to people familiar with the matter.
The founders of Renishaw Plc are seeking to offload their combined 53% stake in the British engineering firm worth more than $2 billion, while the billionaire behind Louis Dreyfus Co. agreed last year to sell a 45% stake in the storied agricultural trader to Abu Dhabi sovereign wealth fund ADQ.
-With assistance from Kim Bhasin.
This article was provided by Bloomberg News.