Singapore
shoe retailer Charles & Keith’s profile is set to rise considerably with
the announcement of Louis Vuitton Moet Hennessy’s (LVMH) acquisition of a 20% stake in the company.

Charles and Keith Wong, the brothers who own the shoe
company, have sold a fifth of the company’s stakes for more than S$30 million to L Capita Asia, the
private equity subsidiary of LVMH. The deal, which values the company at about $200 million, will grant the homegrown label access to the branding expertise
of the luxury giant, which Charles & Keith hopes to leverage on to expand
into the Chinese market.

The LVMH deal is only the latest feather in Charles &
Keith’s business cap, which has grown substantially since its modest beginnings
in 1996. The entrepreneurial company has garnered a slew of awards for its
innovative enterprise, such as the 2009 Enterprise
of the Year Award by the Singapore Business Awards. To date, the corporation
boasts over 200 concept boutiques in 27 countries. 

lvmh.com

charleskeith.com