China's Fosun Fashion Group has signed an agreement to acquire 100% of Italian luxury footwear brand Sergio Rossi from Absolute Holding S.r.l., an independently managed investment subsidiary of Investindustrial. The acquisition will further enrich FFG’s luxury brand portfolio, which currently includes Lanvin, Wolford, Caruso and St. John Knits, complementing the group’s core competency through luxury accessories. The transaction is subject to customary regulatory approval and is expected to close during this summer.

Sergio Rossi was founded in 1951 by Mr. Sergio Rossi in the renowned San Mauro Pascoli shoemaking district in Italy. Today, the brand has a worldwide distribution network of 64 stores, of which 45 are directly owned flagship stores in prime luxury locations across EMEA, Japan and Greater China with the remaining stores franchised.

“The journey continues with even more strength, for those who, like us, have always believed in audacity and innovation, respecting our history and our values.” Riccardo Sciutto, Group CEO at Sergio Rossi. 

Photo credit: @sergiorossi