Italian non-public fairness company Investindustrial is operating with Rothschild as an adviser to review a imaginable sale of luxurious shoemaker Sergio Rossi, one supply as regards to the subject mentioned on Tuesday.
Famous for the craftsmanship in the back of its footwear, which is able to promote for €600 ($728) a couple, Sergio Rossi, like different manufacturers that rose to reputation in post-war Italy, has struggled to stay alongside of evolving type tendencies.
At the similar time, the luxurious items trade is grappling with the hit from the worldwide well being emergency that has close retail outlets, contracted call for and uncovered the trade’s reliance on Chinese vacationers.
The supply, who declined to be named for the reason that subject is non-public, mentioned the method of comparing a sale had simply began and would take fairly a while. Rothschild declined to remark.
Investindustrial has been running on relaunching the emblem after obtaining it in 2015 from French luxurious items crew Kering. Kering-owned Gucci had purchased the family-owned company in 1999 however struggled to show it round.
The shoe sector has attracted investor pastime. Private fairness company CVC is in talks to shop for sandals maker Birkenstock, media experiences have mentioned and the house owners of Dr. Martens goal to boost as regards to £1.three billion ($1.eight billion) from a London record.
Sergio Rossi reported €66.five million in revenues in 2019 and a internet loss of €15.eight million, in keeping with information filed with the native chamber of trade within the Emilia Romagna area, the place the corporate is primarily based.
Industry e-newsletter WWD first reported information of a possible Sergio Rossi sale.
By Elisa Anzolin, editors: Valentina Za and Barbara Lewis.