Two private equity funds backed by the world's largest luxury goods conglomerate have acquired a stake in Giuseppe Zanotti,WOMENS Casual Pants, a designer shoe brand beloved by celebrities.?

L Capital Management and its sister fund L Capital Asia have taken a 30 per cent holding in Vicini, which owns Giuseppe Zanotti.?

Mr Zanotti, the Italian designer from which the brand takes its name, is said to be seeking financial and strategic support in order to win ground in the increasingly competitive luxury market. As such the L Capital funds' investment has been structured without debt to allow the company to grow.?

In all, L Capital manages ?2.2bn and is sponsored by Louis Vuitton Moet Hennessy Group, which counts Veuve Clicquot and Fendi in its repertoire.?

Vicini,Christian Louboutin Boots, which owns 85 branded stores, made record sales of ?115m in its fiscal year ending in October.?

With both European and Asian funds behind it,SUPRA SHOES, the company will benefit from expertise in two of the world's most important luxury markets. ?

While sales in China have slowed more recently in the wake of a government crackdown on gifting,Hermes Kelly, according to a report by the Economist Intelligence Unit, Asia is expected to account for more than half of the market within ten years as demand recovers.?

Private equity has been taking a shine to affluent brands more recently, typically taking minority positions given the strong creative direction from founders and their immediate teams. In February Blackstone bought a 20 per cent stake in Versace in a deal valuing the Italian fashion house at ?1bn.

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