MILAN — Giuseppe Zanotti has bought back the minority stake in his namesake brand from investment fund L Catterton.
The acquisition takes place amid a brisk M&A footwear scenario, as earlier this month Caleres signed a deal to acquire Stuart Weitzman for $105 million from Tapestry, and Steve Madden is acquiring British company Kurt Geiger from Cinven Group in a $360 million deal. Capri Holdings has reportedly put Jimmy Choo up for sale and Tamara Mellon is said to be interested in the brand she cofounded. However, sources said Prada Group is in exclusive due diligence with Capri about buying both Jimmy Choo and Versace and have about mid-March to conclude a deal, if one is finalized. Prada could in turn flip Jimmy Choo to another buyer to focus on Versace.
In 2014, L Catterton — at the time L Capital Management and L Capital Asia — took a 30 percent stake in the Zanotti brand. The majority stake remained in the hands of its founder.
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L Catterton was formed in 2016 when Catterton, LVMH Moët Hennessy Louis Vuitton and Groupe Arnault came together in a partnership.
“I’m grateful to L Catterton for their support and collaboration over the years. This is both a return to my roots and a step towards the future, allowing the brand to shape its long-term growth with complete independence,” said Zanotti. “Fashion is about freedom and creativity — I’m excited to lead this next phase with the same energy, dedication and passion as always.”
The partneship with L Catterton has helped Zanotti expand its global presence and invest in innovation, retail and digital development.
Financial details were not disclosed.
Zanotti’s brand is known for its feminine and sexy designs and over the years has been a favorite with the likes of Nicole Kidman, Cate Blanchett and Taylor Swift, to name a few. Zanotti has made exclusive capsule collections designed in collaboration with Rita Ora, Jennifer Lopez and Zayn Malik.
In 2024, the brand celebrated 30 years in business with a limited-edition capsule collection placing its Ring sandal in the spotlight. The Ring sandal is a signature of the luxury brand, featuring a crystal embellished strap around the big toe as well as a slender strap across the midsection of the foot. Another signature design is the “Venus” stiletto.
The company is based in Italy’s footwear manufacturing hub San Mauro Pascoli.
Early on in his career, Zanotti worked as a consultant and shoe designer freelancing for the likes of Valentino, Balmain, Paco Rabanne and Vera Wang, among many others.
As reported, in January, L Catterton acquired a majority stake in the Japanese denim brand Kapital. The fund has completed over 275 investments in well-known consumer brands worldwide.
In the fashion sector — in addition to Kapital — L Catterton has also invested in Birkenstock, Etro, Gentle Monster, Charles & Keith, Everlane, Ganni and GXG.
