China’s Fosun Vogue Group to accumulate Italian shoemaker Sergio Rossi


Chinese language luxurious style agency Fosun Vogue Group (FFG) has introduced that it has signed an settlement to accumulate Italian luxurious footwear model Sergio Rossi from Absolute Luxurious Holding, an independently managed funding subsidiary of Investindustrial. The transaction is topic to customary regulatory approval and is anticipated to shut throughout this summer season.

The acquisition will enrich FFG’s luxurious model portfolio, which at present contains Lanvin, Wolford, Caruso and St. John Knits, FFG stated in a press launch.

Sergio Rossi was based in 1951 by Sergio Rossi within the San Mauro Pascoli shoemaking district in Italy. Beforehand owned by the Gucci Group (now Kering), it was acquired by Investindustrial in 2015. Sergio Rossi has a worldwide distribution community of 64 shops, of which 45 are straight owned flagship shops in places throughout EMEA, Japan and Larger China with the remaining shops franchised. 

FFG manages a portfolio of heritage manufacturers protecting a full spectrum of style luxurious classes, and it is likely one of the first movers to create a world luxurious style group in China. This acquisition not solely completes a extra well-rounded strategic model ecosystem for FFG, but additionally creates potential synergies between manufacturers by Sergio Rossi’s absolutely owned and state-of-the-art manufacturing unit.

“We’re excited to have Sergio Rossi be part of FFG household, who we consider is likely one of the few main shoemakers out there. Once we dived into the model, we have been captivated by its DNA which is deeply rooted within the creativity and experience of its eponymous founder. The world of Sergio Rossi is a spot the place magic and actuality come collectively to create handmade sneakers for classy, good and effortlessly stylish girls,” stated Joann Cheng, chairman of Fosun Vogue Group.

“Moreover, we have been additionally mesmerized by Sergio Rossi’s archive, meticulously renovated, and digitally filed with over 13,000 paperwork, and the place over 6,000 heritage sneakers are saved as inspiration for future collections. Since its inception, the model stands on the very tip of high quality and craftsmanship, and these attributes are shared throughout our group’s portfolio,” Cheng added.

Riccardo Sciutto, CEO of Sergio Rossi commented: “After 5 years of fantastic partnership with Investindustrial and having made step one of the massive renewal of the corporate, myself and the remainder of the administration group now welcome FFG as the brand new proprietor. We’re enthusiastic about Sergio Rossi’s future progress prospects supported by new collections that might be unveiled, the fast-growing market through which our model is interesting to, and FFG as new accomplice to maintain us on this thrilling journey.”

FFG is an affiliate of Fosun Worldwide Restricted that operates in over 20 nations and manages over $117 billion in whole belongings.

Fibre2Fashion Information Desk (KD)

Chinese language luxurious style agency Fosun Vogue Group (FFG) has introduced that it has signed an settlement to accumulate Italian luxurious footwear model Sergio Rossi from Absolute Luxurious Holding, an independently managed funding subsidiary of Investindustrial. The transaction is topic to customary regulatory approval and is anticipated to shut throughout this summer season.

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