Sergio Rossi is synonymous with craftsmanship and prime quality on the planet of luxurious sneakers. At all times. The model, recognized all around the world, definitely represents Italian excellence. It was based in 1951 by Sergio Rossi (victim of Covid-19) within the famend footwear district of San Mauro Pascoli in Italy and has continued to develop ever since. At the moment is the information of the acquisition of the model by Fosun Vogue Group (FFG), a global luxurious trend group and subsidiary of Fosun Worldwide, one of many largest Chinese language shopper items conglomerates, with round 30 years of expertise within the profitable funding and progress of world manufacturers, significantly sturdy in bringing manufacturers to China, the biggest luxurious market on the planet
The announcement was made by the Fosun Vogue Group (“FFG”) which declares that it has signed an settlement to amass 100% of Sergio Rossi SpA from the PE Investindustrial fund, which thus turns into a part of the posh portfolio of FFG, which incorporates Wolford, Caruso, St. John and the French trend home Lanvin. The transaction is topic to customary regulatory approval and is predicted to shut in the course of the summer time.
Beforehand owned by the Gucci group (now Dry), Sergio Rossi was then acquired by the PE Investindustrial fund in 2015. At the moment, Sergio Rossi has a worldwide distribution community of 64 shops, of which 45 are instantly owned shops in luxurious areas throughout EMEA, Japan and Higher China.
This acquisition not solely completes a extra complete strategic model ecosystem for FFG, but in addition creates potential synergies between manufacturers by means of the totally owned, state-of-the-art Sergio Rossi manufacturing unit.
“We’re completely satisfied to have Sergio Rossi within the FFG household, which we imagine is likely one of the few main shoe producers available in the market with a novel and unmistakable DNA.
The world of this model is a spot the place magic and actuality come collectively to create handmade sneakers for classy, elegant and trendy girls. Moreover, we had been mesmerized by the archive, meticulously renovated and digitized with over 13,000 paperwork, and the place over 6,000 historic sneakers are saved as inspiration for future collections. Since its inception, the model has stood on the pinnacle of high quality and craftsmanship, and these values are shared all through our group’s portfolio. We thank Investindustrial and the Administration led by Riccardo Sciutto for his or her dedication and steerage over these 5 years and we’re proud to take Sergio Rossi’s legacy in the direction of a brand new chapter. As at all times, FFG stays totally dedicated to supporting the expansion of the model as one of the vital iconic within the footwear market. ”
That is mentioned by Joann Cheng, president of Fosun Vogue Group, whereas Riccardo Sciutto, Group CEO of Sergio Rossi commented:
“After 5 years of wonderful partnership with Investindustrial and a serious renewal of the corporate, I and the highest administration are proud to take part, investing with the brand new shareholder FFG, giving coherence and continuity to the venture. We’re enthusiastic about Sergio Rossi’s future progress prospects supported by new strategic actions, by the quick rising market our model is concentrating on and by FFG as a brand new accomplice to assist us on this thrilling journey “.