The global luxury fashion group, based in China has signed an agreement to acquire 100 per cent of Sergio Rossi.
The acquisition will further enrich Fosun Fashion Group’s current luxury brand portfolio, which currently includes Lanvin, Wolford, Caruso and St. John Knits, complementing the group’s core competency through luxury accessories. The transaction is subject to customary regulatory approval and is expected to close during this summer.
Sergio Rossi was founded in the 1951 by Mr. Sergio Rossi in the renowned San Mauro Pascoli shoemaking district in Italy. Previously owned by the Gucci Group (now Kering), Sergio Rossi was then acquired by Investindustrial in 2015. Today, Sergio Rossi has a worldwide distribution network of 64 stores, of which 45 are directly owned stores in prime luxury locations across EMEA, Japan and Greater China.
“We are excited to have Sergio Rossi join FFG family, who we believe is one of the few leading shoe makers in the market. When we dived into the brand, we were captivated by its DNA which is deeply rooted in the creativity and expertise of its eponymous founder. The world of Sergio Rossi is a place where magic and reality come together to create handmade shoes for sophisticated, smart and effortlessly chic women,” said Joann Cheng, Chairman of Fosun Fashion Group.
