Rumor has it that the latest major label looking to be sold is that of Italian footwear master Giuseppe Zanotti.
According to Bloomberg, Vicini SpA, which owns the brand, has been consulting with an investment bank in order to “examine strategic options that may lead to a sale in 2014.” Zanotti’s label could be worth $412 million.
WWD is also reporting that, in addition to a number of interested private equity firms, luxury conglomerate LVMH could also be a possible buyer — its luxury footwear category is already on the rise with the recent acquisition of a majority stake in Nicolas Kirkwood.
Zanotti’s shoes are a celebrity favorite — he even joined forces with Kanye West in 2012 to create a line of heels for his Paris runway show, which ended up costing over $6,000 a pair at retail. A number of prestigious fashion houses have also called upon him to collaborate on footwear for their collections over the years, with his offerings for Thakoon, Proenza Schouler and Balmain being the most memorable.
It seems to us that Zanotti hasn’t been quite as buzzed about lately as he has in seasons past (remember THE glitter ankle boot?), so could he be gearing up for a revamp of his business? Stay tuned.