LVMH Acquires Stake in Giuseppe Zanotti
LVMH just acquired a 30% stake in the Italian footwear house so all the trash talking West has done when it comes to the fashion juggernaut’s crown jewel Louis Vuitton—despite partnering with them on a separate shoe collaboration—would be bad for business.
We reported back in December that the brand’s owner Vincini SpA was in talks with an investment bank to “examine strategic options that may lead to a sale in 2014,” to interested buyer LVMH Moët Hennessy.
Today’s announcement makes confirms the deal!
“It’s a great new project which makes us really proud and [optimistic] for the future, Zanotti told British Vogue. “One which will allow the company to get better structured, reinforce our penetration into the international markets and keep growing.”
…and keeps us shopping!