L Capital has acquired a 30% stake in Vicini, an Italian shoe maker and retailer that also owns luxury shoe brand Giuseppe Zanotti, the creative inspiration behind the company.
Vicini makes shoes under its own brand name, under other luxury licenses and the Giuseppe Zanotti label, with Zanotti (pictured) as 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 fashion business news source 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 also has licenses to make shoes for other luxury brands including Balmain. However, Zanotti’s shoes are only distributed to very high end luxury stores and boutiques around the world given its higher price range, which can include sandals for more than $3000 a pop and sneakers close to the $900 mark.
In 2012, revenues were at the EUR80m mark with earnings 11% of sales, according to figures from Sanford C. Bernstein.
Late last year Vicini reortedly appointed investment bank Rothschild to examine strategic options for an equity sale.
Italian law firm NCTM assisted with the European and Asian funds of L Capital in the closing of the contract for the 30% stake in Vicini Spa, The Lawyer reported. The NCTM team that assisted L Capital was co-ordinated by senior partner Paolo Montironi, together with two other partners, Pietro Zanoni and Monica Montironi, and associates Lucia Corradi and Claudia Grilli, the online legal news site said.
Photo Source: Hypebeast