Christian Louboutin, renowned for his iconic red-soled shoes, has become a billionaire after over four decades of creating luxurious footwear. At 61, Louboutin’s fashion brand has catapulted him into the billionaire ranks. Although initially known for his towering stilettos and daring platforms, the Louboutin brand now includes sneakers, bags, beauty products, and lines for men and children.
In 2021, Exor, an investment firm owned by Italy’s Agnelli family, acquired a 24% stake in the Louboutin company for approximately $650 million, valuing the brand at $3.2 billion. Louboutin still owns 35% of the company, which is estimated to be worth $1.1 billion. This stake forms the majority of his estimated $1.2 billion fortune, which also includes ventures such as the Vermelho Hotel, a luxury resort he opened in southern Portugal last year.
“I started the company with my two best friends,” Louboutin said in a 2021 interview with The Business of Fashion. “I never thought about selling any part of the company. I focused solely on designing beautiful shoes.”
These exquisite shoes, priced around $800 a pair and reaching into the thousands, quickly found their way onto the feet of the world’s elite. Louboutin opened his first boutique in Paris in 1991, and his red-soled heels soon became a fashion staple on red carpets worldwide.
Louboutin was born and raised in Paris, coming from a working-class family. His father was a cabinet maker from Brittany, and his mother stayed home raising him and his three older sisters. Louboutin discovered a sign forbidding women from wearing stilettos at the age of 10 during a visit to Paris’ Museum of African and Oceanic Art, which sparked his lifelong passion for shoes.
“I was born into a very feminine environment with my sisters, who helped me to understand women and led me to what I’m doing,” Louboutin explained. “I always used to draw shoes growing up, but I never imagined creating new shoes could be a career.”
At 16, Louboutin was expelled from school and traveled to India before returning to Paris to intern at the Folies Bergère, where he began designing shoes for the dancers. He then worked with French shoe designer Charles Jourdan, freelanced for Chanel and Yves Saint Laurent, and later worked for Roger Vivier, known for inventing the stiletto.
After a brief hiatus from shoe design, during which he designed terraces in New York and gardens in France, Louboutin opened his first shop in Paris in 1991 with the help of two friends. That same year, Louboutin introduced the famous red soles. He noticed his assistant polishing her nails and used her red nail polish to paint the soles of a shoe prototype, creating his signature look.
From his first boutique in the Galerie Véro-Dodat near the Louvre, the brand expanded, opening boutiques in New York in 1994 and London in 1997. Over the years, Louboutin’s heels have been worn by countless celebrities and become synonymous with elegance and style.
Today, Louboutin’s brand boasts more than 160 boutiques in 32 countries across four continents, including 35 in the United States, 23 in Japan, and 20 in China. The brand’s reach has extended into apparel and handbags, which senior research analyst Luca Solca notes as a rare achievement for a footwear brand.
Louboutin’s company aggressively protects its red sole through various legal battles worldwide, ensuring its continued uniqueness. Additionally, Louboutin’s personal real estate portfolio spans the globe, including luxurious properties in Paris, Luxor, Los Angeles, Rio de Janeiro, and Lisbon.
As Louboutin ventures beyond heels into other product categories, he remains an essential part of his brand’s success. His ongoing passion for design drives the enduring success of his global fashion empire.