Investindustrial sells Sergio Rossi to Chinese fashion group Fosun

The sale ends a six-year holding period for the GP, which acquired the company from Kering group in a deal valued at around €80m.

Sergio Rossi was a portfolio company of Investindustrial V, a €1.25bn vehicle that owned the business via holding company Absolute Luxury Holding.

Investindustrial hired Rothschild in January 2021 to find a trade buyer for the company, according to press reports. The sale attracted several bidders, including Swiss luxury brand Bally International, NYC-based Marquee Brands and Italian company Piquadro, according to Unquote sister publication Mergermarket.

Under Investindustrial's ownership Sergio Rossi boosted its international expansion, primarily in Asia.

With this acquisition, FFG expects to further enrich its portfolio of luxury brands, which currently includes Lanvin, Wolford, Caruso and St John Knits.

FFG is an affiliate of Hong Kong-listed Fosun International, a consumer group that controls companies operating across the tourism, sport, food, entertainment, healthcare, pharmaceuticals, and insurance sectors. Fosun operates in 20 countries and manages more than $117bn in assets.

Company
Founded in 1951, Sergio Rossi is a luxury brand specialising in footwear and clothing accessories. The company is headquartered in Milan with a production facility near Rimini, and regional offices in Shanghai, Hong Kong and Tokyo.

Employing 460 staff, the business currently operates a network of 64 stores, of which 45 are directly owned flagship stores located across the EMEA region, Japan and China. The company generates annual turnover of around €50m.

People
Investindustrial – Michael Guan (chair of Asia).
Fosun Fashion Group – Joann Cheng (chair).
Sergio Rossi – Riccardo Sciutto (CEO).

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