Sunday, December 15, 2019

Sergio Rossi sold by Kering after failing to meet expectations


Sergio Rossi, the luxury shoe maker,”¯has been sold by”¯Kering”¯to”¯European investment house Investindustrial. 

The French conglomerate has offloaded 100% of the business in a transaction that includes all the industrial assets of Sergio Rossi, the rights attached to the brand and the entire distribution network. The agreement will allow the Sergio Rossi brand to continue its path of development with a strategic partner that can support the brand solidly and with prospects for long-term growth. Financial terms of the deal, however, are unknown.

Sergio Rossi is an Italian luxury footwear label with a significant presence in EMEA, America, South East Asia and Japan, with over 80 stores (a mix of directly operated stores and franchised stores).

Investindustrial is a European industrial group which provides solutions and capital to mid-sized companies, in order to accelerate their international expansion and improve their operational efficiency

 “We have built an excellent relationship with Kering who has chosen us as the new owners for the brand,” said Andrea C. Banomi, Senior Partner at Investindustrial. “This choice makes us proud, as over  the years Investindustrial, through numerous success stories has grown and developed brands with great tradition. Currently we are partners of leading brand 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.”

Kering bought Rossi in 1999 and completely owned the group by 2005 but after the founder exited, expectations were not met. 

The transaction is expected to close in the coming weeks.