By Joshua Kirby

Exor NV said Monday that it has agreed a deal to take a 24% stake in French fashion house Christian Louboutin.

The Amsterdam-listed investment company said it will invest 541 million euros ($644.5 million) in Christian Louboutin, known for its premium women's footwear. Under the deal, Exor will nominate two of the seven members of the company's board of directors.

Christian Louboutin has around 150 retail stores in 30 countries, as well as a global wholesale network and growing e-commerce capabilities, Exor said, adding that the brand has scope for further expansion, notably in China.

The transaction is expected to close in the second quarter.

Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby

(END) Dow Jones Newswires

March 08, 2021 02:35 ET (07:35 GMT)

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