Shoe Designer Christian Louboutin Is Now A Billionaire from red velvet nip Watch Video

⏲ Duration: 6:47
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✓ Published: 26-Apr-2024

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After four decades of keeping his well-heeled clients in his iconic red-soled heels, shoe designer Christian Louboutin is now a billionaire. The 61-year-old designer is stepping into the billionaire ranks thanks to his eponymous fashion brand. While still best-known for its towering stilettos and perilous platforms, the Louboutin brand has expanded into sneakers, bags, and beauty products, as well as lines for men and children.<br/><br/>The company was valued at $3.2 billion last year by Exor, the investment company of Italy’s Agnelli family, which bought a 24% stake in 2021 for about $650 million. Louboutin still owns 35%—which Forbes values at $1.1 billion. That stake makes up most of an estimated $1.2 billion fortune that includes other investments such as the Vermelho Hotel, a luxury resort he opened in southern Portugal last year. Representatives for Louboutin didn’t respond to requests for a comment on the valuation.<br/><br/>Read the full story on Forbes:<br/>https://www.forbes.com/sites/giacomotognini/2024/04/01/christian-louboutin-net-worth-billionaire-shoe-designer/<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.