Earlier in December, the Kering Group announced that it was selling 100% of its shares in the Italian footwear label Sergio Rossi, a smaller fashion house, compared with some notable names in Kering’s luxury portfolio.

Sergio Rossi has a significant international presence in EMEA, America, South East Asia and Japan with over 80 stores (a mix of directly operated stores and franchised stores).

This change of ownership is expected to help with the refocus of the Sergi Rossi business, and further consolidate its performance.

The European investment firm InvestIndustrial is a group of independently managed investment, holding and advisory companies with approximately 2.9 billion euros of assets under management, which provides industrial solutions and capital to mid-market companies in Europe. The amount involved in the deal hasn’t been disclosed, but some estimate it might reach around 50 million US dollars.

With the sale, InvestIndustrial will have control over Sergio Rossi’s trademark rights and distribution network, as well as the footwear label’s factory near Florence.

"We have built an excellent relationship with Kering who has chosen us as the new owners for the brand. This choice makes us proud, as over the years Investindustrial, through numerous success stories (such as Ducati, Ruffino, PortAventura, Gardaland, Stroili), has  grown and developed brands with great tradition, stated Andrea C. Bonomi, Senior Partner Investindustrial, adding: Currently we are partners of leading brands such as Aston Martin, Flos, B&B Italia, that are growing internationally. The same growth path that we are looking to achieve for Sergio Rossi."

A world leader in apparel and accessories, Kering develops an ensemble of powerful Luxury and Sport &  Lifestyle  brands such as Gucci,  Bottega  Veneta,  Saint  Laurent,  Alexander  McQueen,  Balenciaga, Stella McCartney, Boucheron, PUMA, amongst others.

Image credits: www.sergiorossi.com