Is iconic Italian, Kering-owned shoe brand Sergio Rossi for sale?
According to insider sources, yes...
Following the sales of footwear brands Stuart Weitzman and Bruno Magli, Sergio Rossi is reportedly the latest big shoe label up for grabs according to reports. Insiders have revealed that parent company Kering are quietly preparing a sale process for the Italian footwear house – although the request for an official comment was declined.
Sergio Rossi arguably 'sits in the shadows' of Kering's footwear empire, with Saint Laurent, Gucci and Alexander McQueen all taking centre stage as Rossi failed to get a mention in the third-quarter Kering results presentation last October.
The label was founded by Sergio Rossi in the Fifties and has recently undergone a series of changes in management and designers, with its most recent creative director Francesco Russo exiting the Italian brand in 2013. The iconic shoe brand has 90 stores around the globe, including its own eCommerce website.
If the rumours are true, Sergio Rossi will join an increasing list of shoe brands changing hands of late. Last month, Marquee Brands LLC bought Bruno Magli and Stuart Weitzman was acquired by Coach Inc. in a deal that was valued at $574 million.