Luxury group Richemont has announced the acquisition of a controlling stake in Italian shoemaker Gianvito Rossi for an undisclosed sum.
The founder, CEO and creative director of the eponymous brand will retain a stake in the company and has been tasked with continuing to develop the house alongside Richemont.
In a release, Philippe Fortunato, CEO of fashion and accessories maisons at the group, commented: “Gianvito Rossi is an exceptional Maison with unique savoir-faire in the world of shoemaking. Its core attributes of uncompromising quality, elegance and timelessness are perfectly aligned with Richemont’s values.
“We are delighted to welcome Gianvito Rossi, his family and his teams to Richemont and look forward to jointly ensuring the enduring creativity and the long-term development of this unique Maison.”
Founded in 2006 and headquartered in Milan, Gianvito Rossi is recognised on a global scale, Richemont noted, offering made-in-Italy craftsmanship and leveraging the longstanding tradition of luxury shoemaking from the San Mauro district.
Rossi stated that with the acquisition, the brand had found a partner who shared its common values, such as the preservation of such traditions.
Rossi continued: “I decided to choose them to keep developing the brand worldwide and for their expertise and model of global expansion. Our partnership will be beneficial for the company’s next stage of growth, and we look forward to starting this exciting new chapter together with a spirit of fruitful cooperation.”