Giuseppe Zanotti is partnering with L Capital.
The luxury shoe brand has agreed terms with the company, which will see L Capital take a 30 per cent stake.
Giuseppe Zanotti is owned by Vicini Spa, which hopes the new arrangement will help its profits soar in 2014. L Capital Asia and L Capital Management are backed by luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton.
Vicini makes shoes under its own brand name and the Giuseppe Zanotti label, with Giuseppe the creative director for the company.
“In this moment, strengthening our company with such a global partner represents an additional investment. It will allow us to get better structured, reinforcing our penetration into the international markets, and keep growing. It is a great new project which make us really proud and optimistic for the future,” the designer told WWD.
He explained the move was a natural one for the company, which has always sought new ways to stay relevant and grow within the market.
Vicini has 85 stores around the world and news of the new deal comes as no surprise to those in the industry. Earlier this year bosses were hired to look into the possibility of selling part of the company. It’s thought the label is worth around $412 million.
Giuseppe has previously insisted he didn’t start his business for financial gain. He is simply in it for the creativity is allows him, not least as when he began things he was creating pieces he couldn’t find anywhere else.
“I’m not driven by whether it grows or not. When I started this business [15 years ago], I had nine staff [members] and my only objective was to design shoes. I didn’t come [with backing] from a family business; I was just a designer with enough money for buying leather and accessories and paying the rent,” he said.
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