Lanvin’s FFG acquires Sergio Rossi
Shanghai-headquartered Fosun Fashion Group (FFG), owner of luxury brands including Lanvin and Wolford, recently signed an agreement to acquire 100% of Italian footwear company Sergio Rossi.
The San Mauro Pascoli-based shoemaker is currently owned by Absolute Luxury Holding, an independently managed subsidiary of global investment group Investindustrial, who purchased the firm from luxury goods conglomerate Kering in 2015.
The deal, currently subject to regulatory approval, is expected to close over the summer.
FFG chair, Joann Cheng, commented: “We are excited to have Sergio Rossi, which we believe is one of the few leading shoemakers in the market, join the FFG family.
“The world of Sergio Rossi is a place where magic and reality come together to create handmade shoes for sophisticated, smart and effortlessly chic women. Since its inception, the brand stands at the very tip of quality and craftsmanship and these attributes are shared across our group’s portfolio.”
Asia chair at Investindustrial, Michael Guan, added that the brand is now particularly well-placed for continued expansion into Asia and, specifically, China.
In this vein, Sergio Rossi chief executive, Riccardo Sciutto, said: “We are excited about Sergio Rossi’s future growth prospects supported by new collections that will be unveiled, the fast-growing [China] market to which our brand is appealing and FFG as a new partner to sustain us on this thrilling journey.”
Back in April, FFG formed a strategic alliance with Shanghai-based brand e-commerce service partner Baozun, as well as fellow Shanghai company Activation Group (an integrated marketing agency specialising in partnering with luxury brands) and other Chinese retail and supply chain partners.
Image: Sergio Rossi via Instagram.
