Precious Renowned French designer Christian Louboutin has reached the esteemed status of billionaire, thanks to the success of his eponymous fashion brand, famous for its iconic red-soled shoes.
Louboutin’s brand was recently valued at a staggering 3.2 billion USD by investment firm Exor. With Louboutin owning a 35 percent stake in the company, his net worth has soared to an estimated 1.2 billion USD, according to a new report by Forbes.
The journey to billionaire status began when Louboutin opened his first store in Paris in 1992. It was during this time that he accidentally stumbled upon his now-famous red sole, applying his assistant’s nail polish to a pair of heels in his workshop. Since then, Louboutin’s designs have become synonymous with luxury, adored by celebrities and fashionistas worldwide, from Angelina Jolie to Sarah Jessica Parker.
In 2021, Louboutin, along with his business partners Henri Seydoux and Bruno Chambelland, sold a 24 percent stake in the brand to Italian company Exor for approximately 650 million USD. This move allowed the brand to expand its global presence, particularly in China, and led to a remarkable 30 percent increase in its value.
Despite his brand’s association with towering stilettos and daring platforms, Louboutin has diversified his offerings over the years. The brand now encompasses sneakers, bags, beauty products, and even lines for men and children.
Beyond fashion, Louboutin has ventured into other lucrative investments, including the Vermelho Hotel, a luxury resort he opened in southern Portugal last year.
In 2023, Louboutin further cemented his brand’s place in popular culture by creating custom shoes for Taylor Swift’s Era Tour and bespoke boots for Beyoncé’s Renaissance Tour.
Despite his monumental success, representatives for Louboutin declined to comment on the recent valuation.
