November 27, 2021
  • November 27, 2021

Sergio Rossi acquired by Chinese fashion conglomerate

By on June 10, 2021 0

The executives of Fosun Fashion Group (FFG) have reached an agreement to acquire the shoe brand Sergio Rossi.

The bosses of the Chinese conglomerate confirmed on Thursday that they would buy 100% of the Italian luxury brand, founded by designer Sergio Rossi in 1951, from the executives of the current owner, Investindustrial.

“After five years of excellent partnership with Investindustrial and having taken the first step in the great renewal of the company, myself and the rest of the management team now welcome FFG as new owner”, Riccardo Sciutto, CEO of Sergio Rossi, commented. “We are excited about Sergio Rossi’s future growth prospects, supported by the new collections to be unveiled, the rapidly growing market our brand is targeting and FFG as a new partner to support us on this exciting journey. “

FFG’s luxury brand portfolio already includes Lanvin, Wolford, Caruso and St. John Knits. The transaction, which is subject to customary regulatory approval, is expected to close this summer.

“We are delighted that Sergio Rossi is joining the FFG family, which we believe is one of the few leading shoe manufacturers in the market,” added Joann Cheng, President of FFG. “When we immersed ourselves in the brand, we were captivated by its DNA which is deeply rooted in the creativity and expertise of its eponymous founder. Sergio Rossi’s universe is a place where magic and reality come together to create handmade shoes for, and effortless chic women. “

Previously owned by the Gucci group, now known as Kering, Sergio Rossi was acquired by Investindustrial in 2015.

Rossi died after being diagnosed with Covid-19 at the age of 84 in April 2020.

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