Sergio Rossi acquired by the Fosun Vogue Group

China’s Fosun Style Group, which owns Lanvin, has acquired completely of the Italian high class shoemaker Sergio Rossi from Total Luxury Positioning S.r.l., an independently-managed investment subsidiary of Investindustrial.

In a statement, Fosun Fashion Group (FFG) explained that it had been commented to continuing the growth of Sergio Rossi as “probably the most iconic shoe brands on the market” and will look to drive expansion in Asia.

The acquisition will “further enrich FFG’s extravagance brand portfolio,” added the business, which currently includes French couture house Lanvin, Austrian hosiery consultant Wolford, Italian menswear brand Caruso and American fashion label St. John Knits.

With FFG stating that the acquisition completes a far more “well-rounded strategic brand ecosystem” for the firms portfolio, while also creating probable synergies between brands through Sergio Rossi’s fully owned and state-of-the-art factory.

Financial terms were not disclosed, with the business adding that the transaction is certainly subject to customary regulatory approval and is going to be expected to close during this summer.

Fosun Fashion Group gives Sergio Rossi to its portfolio of high class brands
Joann Cheng, chairman of Fosun Manner Group, said in a statement: “We are thrilled to have Sergio Rossi join FFG family, who we believe is probably the few leading shoemakers available in the market. When we dived in to the manufacturer, we were captivated by its DNA which is certainly deeply rooted in the creative imagination and know-how of its eponymous founder. The universe of Sergio Rossi is usually a place where magic and reality come together to create handmade shoes for sophisticated, intelligent and effortlessly chic girls.

“Furthermore, we were as well mesmerised by Sergio Rossi’s archive, meticulously renovated, and digitally filed with over 13,000 files, and where over 6,000 heritage shoes are stored simply because inspiration for future selections. Since its inception, the manufacturer stands at the very tip of top quality and workmanship, and these attributes happen to be shared across our group’s portfolio.”

Riccardo Sciutto, chief executive of Sergio Rossi, added: “Immediately after five years of excellent partnership with Investindustrial and having manufactured the initial step of the huge renewal of the business, myself and all of those other management team nowadays welcome FFG as the new owner.

“We are worked up about Sergio Rossi’s near future growth leads supported by new collections which will be unveiled, the fast-developing market where our brand is attractive to, and FFG as brand-new partner to sustain us on this thrilling journey.”

Sergio Rossi was founded found in 1951 by Mr Sergio Rossi found in the renowned San Mauro Pascoli shoemaking district found in Italy. Used 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 immediately owned flagship stores found in prime luxury locations around EMEA, Japan and Greater China with the rest of the stores franchised.