City & Finance Reporter for the Daily Mail
Sole trader: Christian Louboutin, pictured with Kylie Minogue
Christian Louboutin has pocketed a chunk of a £3million payout for shoes sold in the UK last year despite dwindling profits and flat sales.
The 55-year-old boss of the French fashion house, famous for its red-soled stilettos, took home part of the dividend as UK profits dropped to £1.1million from £5.8million.
The shoemaker blamed challenging retail conditions in the UK as sales edged up just 0.3 per cent to £52.7million in the year to August 31.
According to accounts, the dividend was paid to the brand’s parent company controlled by its shareholders, which include Louboutin and co-founder Bruno Chambelland.
Louboutin co-founded the business in 1991 after being expelled from school and working briefly as a landscape gardener.
His shoes became famous after Princess Caroline of Monaco bought a pair and his collection has been worn by the likes of Madonna, Joan Collins and Gwyneth Paltrow.
The dividend is down slightly on a £3.5million payment made a year earlier.
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