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The French luxury conglomerate, Kering, has announced the sale of Sergio Rossi to European investment house, Investindustrial.
Investindustrial was said to be in advanced talks with Kering earlier this year over the sale of the luxury shoe brand.
Sergio Rossi has been struggling for over a decade, leading Kering to separate the shoe brand from its half-year 2015 results in July, following the €10.7 million net loss largely attributed to Sergio Rossi.
Andrea Bonomi, Senior Partner at Investindustrial, said the company, whose portfolio includes Aston Martin, Ducati and B&B Italia, works with brands “that are growing internationally” and that it plans to achieve “the same growth path” for Sergio Rossi.