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Italian private equity firm Investindustrial is allegedly studying a possible sale of luxury footwear label Sergio Rossi.
Well-known for the craftsmanship behind its shoes, which can sell for €600 a pair, Sergio Rossi, like other brands that rose to fame in post-war Italy, is said to have struggled to keep up with evolving fashion trends and, like other luxury brands, it has also been impacted by the Covid-19 pandemic. Investindustrial is said to have been working on relaunching the brand after acquiring it in 2015 from Kering, the French luxury conglomerate.
Born in 1935, Sergio Rossi learned the craft of shoemaking from his father and began selling his designs in shops in Bologna in 1966, before launching his own label in 1968. In 1999, he sold 70% of his company to the Gucci Group, now known as Kering, and remained Chairman and Director of Design. In 2005, Kering acquired the remaining 30% stake before selling the label to European investment house Investindustrial in 2015. Sergio Rossi passed away in April 2020.