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Finance: Possible sale of luxury shoemaker Sergio Rossi

Finance: Possible sale of luxury shoemaker Sergio Rossi

On Tuesday 26 January, an anonymous source revealed the possible sale of Sergio Rossi belonging to the Italian private equity firm Investindustrial.

 

Luxury shoemaker Sergio Rossi recently unveiled a turnover of €66.5 million in 2019 and a net loss of €15.8 million, based on data filed with the local chamber of commerce in the Emilia-Romagna region, where the company is based.

 

Indeed, the brand has not been able to withstand the global health crisis like others, and the latter has only accelerated a previously existing trend: the difficulty for the brand to adapt to changing fashion trends.

 

Investindustrial  had already tried to relaunch the brand by buying it in 2015 from the French luxury goods group Kering. Gucci’s parent company had already gone through the same process in 1999 when it bought the company, but was unable to turn it around.

 

The Italian company would therefore be working with the Rothschild bank as advisor to find new shareholders and, in addition, to evaluate the sale of the entire stake in the brand. The source said that the valuation process had only just begun and would take some time.

See Also


 

Lire aussi > BUSINESS : TIFFANY SHAREHOLDERS APPROVE THE BUYBACK PROPOSAL MADE BY LVMH

 

Photo à la Une : © Sergio Rossi

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