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Exor snaps up 24 percent stake in Christian Louboutin

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Exor snaps up 24 percent stake in Christian Louboutin

Exor, the European holding company controlled by the Agnelli family, has acquired a 24 percent stake in Christian Louboutin for 541 million euros.

Alongside the investment, Exor will nominate two of the seven members of Louboutin’s board of directors.

Exor said the deal comes at a moment when Louboutin is “poised to capture significant new opportunities”.

The deal is expected to close in the second quarter of 2021.

“I have admired over the years Christian’s talent in creating one of the world’s great, independent global luxury brands,” said Exor chairman and CEO John Elkann in a statement. “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.”

Louboutin secures Exor as shareholder

Founder of his eponymous label, Christian Louboutin said: “Exor is a company with a steady long-term focus and a strong entrepreneurial culture which, with my partner Bruno, we are also very attached to and where we fully recognize ourselves. 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.

“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. We are, as is my entire team, very happy with this union and we would like to thank John and the Exor team for having taken such great care to understand the human history of our Maison in order to be able to accompany us well for the decades to come.”

Image: Christian Louboutin, Facebook

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Fashion

Nilit partners with The Ocean Foundation

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Image: Sensil Facebook

Nylon brand Nilit has partnered with The Ocean Foundation on its Blue Resilience Initiative.

Joining The Ocean Foundation’s Blue Resilience Initiative, the collaboration aims to protect essential ocean meadows and other coastal habitats. According to Nilit, marine grasslands are being damaged at the rate of two football fields per hour. As important oceanic ecosystems, the grasslands help to reduce global warming by taking CO2 from the atmosphere.

Nilit, which also owns sustainable brand Sensil, has previously stated that protecting the oceans and reducing CO2 is part of its Total Product Sustainability Program. Recently, it reduced CO2 emissions at its main facility, and has utilised clean energy techniques at its manufacturing plants.

“NILIT and The Ocean Foundation can affect both sides of the ocean health equation and, together, make a more substantial impact on the well-being of our oceans and our planet,” said head of global marketing at Nilit, Sagee Aran.

The Ocean Foundation’s Blue Resilience Initiative focuses on coastal reconstruction and providing carbon offsets for foundations, corporations, donors and events. Its work notes the ecological and social impact that coastal areas have on the world, with man made infrastructure degrading nature’s natural defense mechanisms. The Blue Initiative seeks to restore and protect these coastal habitats.

“We are excited to join in The Ocean Foundation’s crucial work to protect the marine ecosystems that sustain life in the oceans and on land,” said Aran. “The Ocean Foundation investment, we have expanded our vision far beyond the traditional supply chain structure so that we can more rapidly and effectively bring about positive environmental impact.”

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Nordstrom and Nike partner with Black Owned Everything

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Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything

Multibrand retailer Nordstrom has launched a partnership with marketplace Black Owned Everything, a platform promoting Black-owned businesses, and its founder Zerina Akers.

The collaboration sees Akers and Nordstrom come together on a curated selection featuring four Black-owned brands, displayed alongside new Nike and Jordan collections in the Nordstrom x Nike dedicated online space.

Labels included in the curation are William Okpo, Sammy B, L’Enchanteur and handbag designer Brandon Blackwood.

Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything

“When we launched Black Owned Everything back in February of this year, partnerships like Nordstrom x Nike were exactly the type of activations I had in mind to amplify the reach of the Black designers whom I work with and mentor,” said Akers, in a release.

She continued: “This intersection of well-established brands and emerging designers is where the progress of Black Owned Everything’s mission takes place.

“The inclusion of these selected designers is a big step for their individual career paths and an even bigger step in the right direction for the American marketplace and beyond.

Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything

“This curation is a fun mix of fashion and lifestyle pieces for the people who are keen to street trends and enjoy functionality.”

Simultaneous with the online presence of the collection, Black Owned Everything merchandise will also be available at four Nordstrom x Nike pop-ups in US-based Nordstrom stores.

Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything
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Sustainable flea market site Farly to launch in UK

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Image: Farly
Image: Farly

Fashion marketplace Farly has announced it is set to launch in the UK on November 11, bringing its flea market approach of resale to new vintage-loving consumers.

Marketed as a virtual flea market, the site hopes to reinvent shopping in a fun and carefully curated way. Its concept revolves around virtual shop windows and mood boards intended to inspire visitors.

Farly looks to appeal to independent sellers, small retailers, artists and curators, providing potential users with the option to design their own shop window through image uploads and editing tools, helping to enhance their offering.

Image: Farly
Image: Farly

“As the world prepares for the United Nations Climate Change Conference (COP26) summit this November, the importance of climate change and looking after our planet has been more prominent than ever,” stated Farleigh Hungerford, Farly’s founder, in a release.

She continued: “Farly only encourages the sale of vintage, pre-loved and second-hand items and we really encourage sellers to have sustainability at heart, from packaging to thinking about the origin of the product all the way to the end of the items’ life cycle.

“Farly adds to this message with the core values at the heart of the business, encouraging users to re-use, recycle and restyle.”

The platform will also feature a reward system, called Farly Points, where sellers can earn points through promoting sales from curated items in their virtual shop windows. Building up points can contribute to discounts for users with the monetisation of their displays.

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