French conglomerate Kering has reached an agreement to sell 100 percent of the capital of luxury footwear label Sergio Rossi to European investment house Investindustrial.
Financial terms were not disclosed, but the transaction includes all the industrial assists of the Italian luxury shoe label including trademark rights and its entire distribution network.
Kering states that the sale of Sergio Rossi, which was being overshadowed by the group’s bigger luxury fashion houses including Gucci and Saint Laurent, will allow the brand to “continue its path of development with a strategic partner that can support the brand solidly and with prospects for long-term growth”.
Investindustrial was founded in 1990 and currently has around 2.9 billion euros of combined assets under management, according to its website, and has become one of Europe's leading independent investment groups focused on taking controlling positions predominantly in Southern European medium-sized companies. Its portfolio of brands includes Aston Martin, B&B Italia and Flos.
Investindustrial acquires 100 percent of Sergio Rossi
Andrea C. Bonomi, senior partner at Investindustrial, said: "We have built an excellent relationship with Kering who has chosen us as the new owners for the brand. This choice makes us proud, as over the years Investindustrial, through numerous success stories, such as Ducati, Ruffino, PortAventura, Gardaland, Stroili, has grown and developed brands with great tradition.
“Currently we are partners of leading brands such as Aston Martin, Flos, B&B Italia, that are growing internationally. The same growth path that we are looking to achieve for Sergio Rossi."
Sergio Rossi is one of the most famous Italian luxury footwear brands, known for its high quality shoes, and it has a significant international presence with more than 80 retail locations across EMEA, America, South East Asia and Japan, along with wholesale distribution to such retailers as Saks Fifth Avenue.
Image: Sergio Rossi SS16