Richemont acquires Italian footwear manufacturer Gianvito Rossi
The Swiss luxury group has announced the acquisition of a controlling stake in the Italian footwear manufacturer Maison Gianvito Rossi. The amount of the deal was not disclosed, writes Worldfootwear.com.
Gianvito Rossi, founder, CEO and creative director of the brand, will retain a stake in the company and continue to lead the business in partnership with Richemont. According to the luxury giant, the Milanese footwear brand, founded in 2006, "embodies the finest expression of Made in Italy craftsmanship, and its footwear is known worldwide for its exquisite design and impeccable quality.
“Gianvito Rossi is an exceptional House with a unique experience in the world of footwear. Its main attributes of uncompromising quality, elegance and timelessness perfectly match the values of Richemont,” said Philippe Fortunato, CEO of Richemont Fashion and Accessories House.
According to the new owners, the Milanese footwear brand, founded in 2006, "embodies the best expression of Made in Italy craftsmanship, and its footwear is known worldwide for its exquisite design and impeccable quality.
Gianvito Rossi, founder, CEO and creative director of the eponymous brand, says he has found “in Richemont a partner who shares common values such as the utmost attention to quality, design and craftsmanship, and the preservation of traditions passed down from generation to generation.” In addition, in his opinion, Richemont's experience and model of global expansion "will be useful for the company in the next stage of growth."
The Swiss group also stated that this transaction will have no financial impact on its consolidated net assets or operating results for the year ending March 31, 2024, and that the results of Gianvito Rossi's operations will be reflected in the annual accounts under "Other".
The Swiss luxury group has announced the acquisition of a controlling stake in the Italian footwear manufacturer Maison Gianvito Rossi. The amount of the transaction was not disclosed, - writes ...
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