Fiat heir Lapo Elkann is stepping into the footwear world with a new investment.
This month, the great-grandson of Fiat founder Giovanni Agnelli became a minority investor in Miami-based luxury footwear brand Blu Scarpa. While terms of the deal were not disclosed, the new partnership was unveiled at Milan Men’s Fashion Week this month at the shoe brand’s spring/summer 2026 collection presentation.
Matthew Chevallard, founder and creative director of Blu Scarpa, said that Elkann’s new partnership will allow the company to scale outside of its Miami home.
“Lapo has believed in me and supported me throughout my footwear journey, and now with this investment, it will allow me to embark on a new chapter,” Chevallard told FN in an interview. “Bringing Lapo on as a partner will allow us a little more wind in our sails to still be very independent, but obviously, have a slightly more resources to compete.”
The executive noted that since the company launched in 2019, he has built a solid foundation in Miami through the company’s own store in the Design District.
“Now we’re moving outside of that micro mentality,” Chevallard noted. “We now want to move into more conventional practices like expanding wholesale and amplifying our messaging to a wider audience.”
Styles from Blu Scarpa’s spring/summer 2026 collection.
Courtesy of Blu Scarpa
Blu Scarpa sells to The Webster as well as Level Shoes in Dubai. “We are working on expanding out relationship with Level, especially since they are slated to open their first U.S. store here in Miami in a few years.” (Level has not confirmed the opening.)
Chevallard is no stranger to the footwear industry. Much of his entrepreneurial spirit is expressed through footwear, starting with the luxury men’s slipper brand Del Toro that he co-founded in 2005.
Now, with Blu Scarpa, Chevallard is focusing in on Italian craftsmanship that takes inspiration from the golden age of 1980s and ‘90s Italian lifestyle and artistic icons such as Lucio Fontana, Georgia O’Keeffe, Donald Judd, and Yves Klein.
For spring/summer 2026, the collection has expanding into the realm of soccer, showcasing a new silhouette alongside new iterations of the brands core models. The offering is made up of five distinct capsules, with prices ranging $475 to $535.
A highlight of the new offering includes the 2.0 Blu Palm shoe, which is described as a continuation of the Blu Palm concept in suede and nylon, originally launched in collaboration with Elkann and Chevallard. Another highlight is the aforementioned Soccer Collezione, which is inspired by 1980s–1990s soccer sportswear. The line introduces a brand-new suede and leather silhouette that brings soccer into Blu Scarpa’s running and tennis-focused sportswear realm.