LVMH announced today that it has taken a significant minority stake in RossiModa, the prestigious Italian shoe manufacturer that is currently owned and managed by Luigino, Diego, and Dino Rossi.

The announcement follows news of a licensing agreement between the Christian Lacroix company and RossiModa for the spring/summer 2001 collection, in which the LVMH fashion group and RossiModa have decided to develop new partnerships to create, produce, and distribute collections for Givenchy and Emilio Pucci.

Other partnerships may materialise for the creation, distribution, and production of other of the LVMH Group's brands by RossiModa, LVMH said in a press release today.

RossiModa is one of the most prestigious shoe manufacturers in Italy, producing 400,000 pairs of shoes every year. Throughout its history, this Venice-based company has created, produced, and distributed products under licence for the world's most exclusive luxury brands, including Christian Dior, Fendi, Givenchy, Calvin Klein, Emmanuel Ungaro, Richard Tyler, and Vera Wang.

The company currently generates turnover of approximately 70bn Italian lira ($31.7m).