Hermès has taken a minority stake in footwear designer Pierre Hardy’s namesake line.

Hardy has been designing shoes for Hermès since 1990 and jewelry since 2001, so the relationship is nothing new. Still, it’s a big move and a major vote of confidence in the luxury footwear space for the French company. “I’m delighted with our partnership with Pierre Hardy, which shows how proud we are to support creative talent and incredible expertise as part of this unique tribe that strives for excellence,” said Hermès International Chief Executive Axel Dumas in a statement.

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