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Published
Apr 9, 2014
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L Capital takes over 30% of Giuseppe Zanotti

Published
Apr 9, 2014

L Capital is acquiring a 30% stake in the Italian company Vicini, owner of the luxury shoe brand Giuseppe Zanotti Design. Both parties made the announcement in a joint-statement, confirming rumors that had been circulating for months.

This is the first time that the French LVMH Investment Funds has embarked upon a co-investment between L Capital Management, which operates in Europe through its headquarters in Paris and offices in Milan and Madrid, and L Capital Asia, whose offices are located in Singapore, Shanghai and Mumbai.

Both businesses are acquiring a 15% stake for an undisclosed sum. Within the European fashion sector, L Capital also holds a 40% stake in the Italian sportswear brand Dondup.

A women's shoe model signed by Giuseppe Zanotti


"Giuseppe Zanotti Design is a fast developing brand, which has recorded more than 30% growth in recent years. The brand is also very international. It has been active from the beginning in the United States, its biggest market with 28% of total sales. It is also very strong in Europe where it sees 42% of sales, of 6% of which are in Italy. The brand is also developing new markets. In 2013, for example, it opened a subsidiary in Hong Kong. We would especially like to accompany its expansion into Asia and the Middle East with a network of its own stores," explained a representatively of L Capital Italy.

The brand, originally specialized in women’s luxury footwear, was founded in 1995 when Giuseppe Zanotti bought the Vicini shoe factory located in San Mauro Pascoli, an area of Italy traditionally known as a center of shoe production. Gradually, the company, which produced shoe collections for other major Italian brands as well as its own label Vicini, began to focus on Giuseppe Zanotti Design.

Zonotti design is now battling for territory held by Louboutin and Jimmy Choo, having seen its turnover rise from 71 million euros in 2011 to 115 million euros in 2013. It finished off the last fiscal year, which ended in October 2013, with a gross operating surplus of 22 million euros.

The brand has blown up, particularly with the launch of its collection of men’s and women’s luxury sneakers in 2011, and especially after 2012 with the men's line, which should earn from now to the end of 2014 nearly a third of its turnover. All of its collections are made in five factories located in Italy.

The men's line has boosted sales of Giuseppe Zanotti.

The company has invested heavily in recent years both in production and in distribution. It has 85 mono-brand stores, including fifteen that are directly managed. About twenty new stores are planned for opening in the next six months, including one in Saint Tropez. In France, Giuseppe Zanotti boasts, among others, a corner shop at Printemps and a store on rue Saint-Honoré.

"Strengthening our company with international partners represents an investment in the future. It will allow our company to become better structured, strengthening its presence in international markets and allowing it to continue to grow," says the founder and chairman of the fashion house, Giuseppe Zanotti.

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