Sergio Rossi is looking for a financial partner. The company 100% owned by Investindustrial fund has commissioned Rothschild investment bank to “explore the market”. All assumptions are on the table. It starts with the relaunch of the property (which has already invested 100 million euros between purchase and capital contribution) to the sale of the brand, passing through the sale of a minority share.
Sergio Rossi is looking for a financial partner
The news broken by Corriere della Sera, in its insert L’Economia, confirms the one shared by Footwear News last week. It noted that “a Sergio Rossi dossier has landed on the desk of potential investors”. It has been almost 6 years since Investindustrial bought Sergio Rossi from Kering. The shoe factory was completely restructured and reorganised by CEO Sergio Sciutto, current Cercal president, and now has a precise identity.
The ideal time
This, therefore, as Corsera points out, could also be the ideal time to sell it. “Sergio Rossi is a small business for Investindustrial, and they may not want to wait for the pandemic to be over,” Footwear News writes. Sciutto has upgraded the San Mauro Pascoli factory where 130 of its 500 employees work. And where shoes for other brands are also produced. For example, Bottega Veneta and Amina Muaddi’s, whose production will begin in spring.
Online sales are worth a third of the turnover
In 2020, Sergio Rossi mourned the death of its founder (in April) and dealt with a business held back by the pandemic. Turnover was supported by online sales which, writes Corriere della Sera, are now worth a third of revenues. Now Andrea Bonomi, who leads Investindustrial, wants to outline a new future for the company. An anonymous source quoted by Corriere, who has examined the dossier, states that the best solution would be to find an ideal industrial partner and cites, as an example, the operation carried out by Moncler with Stone Island.
Images from sergiorossi.com