Kering reportedly exploring sale of Sergio Rossi
today Aug 5, 2013
According to Italian daily newspaper “Il Sole 24 Ore”, luxury brand Sergio Rossi is reportedly up for sale. A source close to the matter has confirmed that Milan-based investment bank Mediobanca has been trusted with the mandate. The Qatari royal family and Diesel founder Renzo Rossi are rumored to be amongst potential buyers.
Decisions are being made from Paris, where mother company Kering’s headquarters are based. Founded in 1966 by shoemaker Sergio Rossi, the brand was acquired in 2000 by Kering, which also owns Gucci, Bottega Veneta and recently acquired Italian jeweler Pomellato.
After a undergoing a brand repositioning, Sergio Rossi has recently entered a new stage of its development. At the end of February, the label welcomed Angelo Ruggeri as creative director, taking over from Francessco Russo who had held the position since 2008. Former marketing manager Susanne Nicoletti was named chief marketing officer and now supports CEO Christophe Mélard. Sergio Rossi generated 70 million euros in revenue in 2012 and owns 54 company-operated stores and 30 franchises.
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