Tag Archives: wholesaler

Christian Louboutin Sold 24% Shares to Italian Agnelli Family | Instant News


PARIS – Christian Louboutin, a brand of high-priced stilettos known for their red soles of shoes, sold 24% of its shares to an investment firm controlled by the Italian Agnelli family, in a deal that valued the French company at 2.3 billion euros, the equivalent of $ 2.73 billion.

Exor

EXO 5.09%

NV, controlled by industry heir Gianni Agnelli, will pay € 541 million for a stake in Christian Louboutin, the two companies said Monday. The brand is based in Paris and has 150 boutiques around the world.

The deal gave one of the most recognizable names in luxury footwear as capital to expand its operations, especially in China. For Exor, the investment is part of a drive to grow in luxury goods, said a spokesman. The company, led by John Elkann, the grandson of Mr. Agnelli, is also a controlling shareholder of a luxury sports car company.

Ferrari

NV. Exor’s largest shareholder is the automotive giant

Stellantis

NV, which owns Fiat and Peugeot among other brands.

French-Egyptian designer Christian Louboutin founded his eponymous brand in Paris in 1991 with a small salon. She quickly attracted celebrity customers for her stilettos which included actresses Sarah Jessica Parker and Gwyneth Paltrow.

This investment is the first time a public rating has been given to Christian Louboutin, showing it to be one of the largest high-end brands yet to be picked up by luxury conglomerates like LVMH Moët Hennessy Louis Vuitton SE or

Dry TO,

parents of Gucci. LVMH earlier this year sealed the biggest-ever deal in the luxury industry with hers $ 15.8 billion purchase from the American jewelery shop Tiffany & Co.

“I have admired Christian’s talent over the years in creating one of the world’s great independent global luxury brands,” said Mr. Elkann.

Christian Louboutin has grown over the years into other product categories from menswear to handbags. But the soul of the brand remains its red sole. As Christian Louboutin grew up, he had waged a legal battle to protect his trademark color from copycats. The US federal appeals court ruled in 2012 that the company was reserves the right to trademark protection for that color—Which the brand calls China Red – when used only in the sole. But the court rejected an attempt to block Yves Saint Laurent from selling the monochrome red shoes.

A European court ruled in 2018 that the color could be protected in the European Union. The decision led to a Dutch court ruling that the Van Haren shoemaker could not make red-soled shoes.

The investment came as Exor sought to use its expertise at Ferrari and Mr Elkann’s connections to expand luxury goods. In December, Exor and Hermès, a French luxury handbag company, jointly invested in Shang Xia, a Chinese luxury goods company. Exor invested € 80 million as part of the deal.

Write to Matthew Dalton at [email protected]

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This is a good line for queuing haters when it comes to shopping for food and vaccines | Instant News


Philadelphia city employees lined up to schedule their second Covid-19 vaccine shot last week. Our columnist is not among them.

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The WHO and Australian agreements raise hopes for the AstraZeneca vaccine | Instant News


The vaccine jointly developed by the drug company AstraZeneca and the University of Oxford has been approved by a growing number of regulators, paving the way for general use, especially in developing countries.

  • Australian drug regulators give temporary agreement for the AstraZeneca – Oxford COVID-19 vaccine on Tuesday, ahead of the national vaccination campaign that kicks off next week.

  • The Canberra government says it has ordered a sufficient dose of vaccine, to be produced in Australia, to cover the country’s entire population.

  • World Health Organization on Monday approve the vaccine for emergency use, which should allow developing countries broad access to fire.

  • AstraZeneca
    AZN,
    -1.19%

    has pledged not to profit from selling the vaccine, which is sold at the lowest price of any vaccine available – at € 1.80 ($ 2.20) per dose, as an example, in the European Union, according to the Belgian health minister, compared to € 18 a dose for Moderna
    MRNA,
    -2.84%

    vaccine and € 12 for Pfizer
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    -0.09%

    –BioNTech
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    -2.71%

    one.

  • UK-Swedish group chief executive Pascal Soriot received the same 3% salary increase as company staff for this year, bringing his base salary to £ 1.33 million ($ 1.9 million), The Financial Times wrote. But his bonuses and long-term incentive program can bring his pay package to over £ 15 million.

  • Even after French President Emmanuel Macron publicly voiced doubts about AstraZeneca’s shot in a media interview, his own health minister Olivier Véran remained take a photo take it, in an attempt to convince French public opinion of its efficacy and safety.

The prospects: AstraZeneca sees doubts about the efficacy of its vaccine in the age group 65 and over slowly disappearing, and its low price, together with ease of transport, storage and manipulation, over time could make it one of the most widely used worldwide.

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Futures Rise After Capitol Riot Inquiry Commission Is Announced | Instant News


AstraZeneca Covid-19 vaccine bottle

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The AstraZeneca COVID-19 vaccine problem was ignored by the UK and Australia | Instant News


Officials in the UK and Australia are trying to reassure their citizens of the efficacy of the AstraZeneca – Oxford University COVID-19 vaccine, after South African authorities decided to stop its launch due to “limited protection” against local variants of the virus.

  • South African Health Minister Zweli Mkhize said on Sunday his country would do so pause the planned deployment of the vaccine, after clinical trials determined that the vaccine did not protect against mild and moderate disease because of local and fast-spreading viral variants.

  • British Vaccine Minister Nadhim Zahawi, however, said that the public could have self confidence at AstraZeneca
    AZN,
    + 0.19%

    shot, which has proven efficient against the dominant strains in England

  • Australian Health Minister Greg Hunt stressed that “there is now there is no proof to demonstrate decreased effectiveness of AstraZeneca or Pfizer
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    -0.29%

    vaccines to prevent serious illness and death. ”

  • Other governments, such as France and Germany, so far limit usage AstraZeneca vaccine is for people over 65 years, while Switzerland has it refuse its use at all.

Read: The AstraZeneca vaccine can reduce spread by up to 67% – and protection remains for an interval of 3 months

The prospects: Most of the doubts about the AstraZeneca-Oxford vaccine stem from insufficient data on its use in an older population. It is up to the company to prove doubters wrong in the coming months, as it is gathering more data on efficacy across all age groups.

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