Exor to acquire a 24% stake in Christian Louboutin for $644m.

Exor, a family-controlled holding company, agreed to acquire a 24% stake in Christian Louboutin, a luxury items shoes seller, for $644m. “I have admired over the years Christian’s talent in creating one of the world’s great, independent global luxury brands. 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. We share the same family spirit, culture and values, which are the basis of a strong partnership. Christian Louboutin’s extraordinary creativity, energy and unique vision are precisely the qualities needed to build a great company,” John Elkann, Exor Chairman and CEO.