A Change of Hands: Italian Shoemaker Sergio Rossi Gets Acquired by Fosun
As much as the coronavirus presents a rather gloomy outlook, luxury conglomerates are taking this opportunity to ramp up their portfolio ? M&A is definitely on the agenda in 2021.
The post A Change of Hands: Italian Shoemaker Sergio Rossi Gets Acquired by Fosun appeared first on LUXUO.
China?s Fosun Fashion Group (FFG) has ramped up its acquisition of luxury brands with its second Italian footwear label Sergio Rossi joining its family, which includes French Maison Lanvin, Austrian hosiery specialist Wolford, Italian menswear company Caruso and American fashion brand St. John.
In an exclusive interview with WWD, it is reported that Fosun bought out 100% of Sergio Rossi SpA at an undisclosed sum from Absolute Luxury Holding Srl, a subsidiary of the European investment firm Investindustrial whose profile includes luxury car brand, Aston Martin. On speaking more about the acquisition, Michael Guan, chairman of Asia at Investindustrial, notes that due to rapid globalisation efforts, ?sales in Asia, and in particular China, grew significantly to become the key region for Sergio Rossi. We believe FFG, with its strong position in China and Asia, is an ideal new owner to help Sergio Rossi expand in the region.?
View this post on Instagram A post shared by Sergio Rossi (@sergiorossi)
China?s economy has been growing swiftly over the past few years and despite the world currently facing a once-in-a-generation pandemic, the country still mana...
The post A Change of Hands: Italian Shoemaker Sergio Rossi Gets Acquired by Fosun appeared first on LUXUO.
China?s Fosun Fashion Group (FFG) has ramped up its acquisition of luxury brands with its second Italian footwear label Sergio Rossi joining its family, which includes French Maison Lanvin, Austrian hosiery specialist Wolford, Italian menswear company Caruso and American fashion brand St. John.
In an exclusive interview with WWD, it is reported that Fosun bought out 100% of Sergio Rossi SpA at an undisclosed sum from Absolute Luxury Holding Srl, a subsidiary of the European investment firm Investindustrial whose profile includes luxury car brand, Aston Martin. On speaking more about the acquisition, Michael Guan, chairman of Asia at Investindustrial, notes that due to rapid globalisation efforts, ?sales in Asia, and in particular China, grew significantly to become the key region for Sergio Rossi. We believe FFG, with its strong position in China and Asia, is an ideal new owner to help Sergio Rossi expand in the region.?
View this post on Instagram A post shared by Sergio Rossi (@sergiorossi)
China?s economy has been growing swiftly over the past few years and despite the world currently facing a once-in-a-generation pandemic, the country still mana...
| -------------------------------- |
|
|
