LVMH confirm Giuseppe Zanotti stake

LVMH has confirmed its private equity fund L Capital will take a 30

percent stake in Vicini, which owns the high-end Giuseppe Zanotti footwear brand.

Vicini said the deal will help it grow in an increasingly competitive global marketplace. Terms of the deal have not yet been disclosed.

Vicini said it closed its latest financial year to October 31 with record sales of 115 million euro, up more than 43 percent. The company, which exports 94 percent of its output, operates over 85 flagship stores worldwide and employs round 500 people.