Chinese luxury fashion firm Fosun Fashion Group (FFG) has announced that it has signed an agreement to acquire Italian luxury footwear brand Sergio Rossi from Absolute Luxury Holding, an independently managed investment subsidiary of Investindustrial. The transaction is subject to customary regulatory approval and is expected to close during this summer.
The acquisition will enrich FFG’s luxury brand portfolio, which currently includes Lanvin, Wolford, Caruso and St. John Knits, FFG said in a press release.
Sergio Rossi was founded in 1951 by Sergio Rossi in the San Mauro Pascoli shoemaking district in Italy. Previously owned by the Gucci Group (now Kering), it was acquired by Investindustrial in 2015. Sergio Rossi has a worldwide distribution network of 64 stores, of which 45 are directly owned flagship stores in locations across EMEA, Japan and Greater China with the remaining stores franchised.