Fosun Fashion Group acquired 100% of the Italian luxury footwear manufacturer Sergio Rossi at the European investment house Investindustrial. Fosun Fashion Group Is one of the first established global luxury fashion groups in China. he is also the owner of the French fashion house Lanvin, the Austrian luxury brand of women's stockings and tights Wolford, the Italian menswear brand Caruso and the American fashion brand St. John, writes WWD.
Financial terms of the deal were not disclosed.
“This acquisition not only completes a smarter strategic brand ecosystem for FFG, but also creates potential synergy between brands through the acquisition of the state-of-the-art Sergio Rossi factory,” Fosun said in a statement.
In recent years, Sergio Rossi CEO Riccardo Schiutto has managed to reorganize the company, modernize its factory, which is located in the heart of the Italian shoe industry in San Mauro Pascoli, employing about 150 craftsmen.
The head of FFG Joan Cheng said that the capacities of the Sergio Rossi factory can be used to produce shoes for the Lanvin and St. John. In addition, she does not exclude the development of various forms of collaboration between brands in the group's portfolio, be it Sergio Rossi x Lanvin, St. John or Wolford, as all four brands are known for their commitment to femininity, elegance and their emphasis on craftsmanship.
Sergio Rossi's development plans include: strengthening local teams and strategies for the Greater China market, which is what FFG does for Lanvin its other brands; strengthening the digital and omnichannel business of Sergio Rossi; increasing brand awareness around the world through marketing activities.