Kering sold Sergio Rossi to Investindustrial for €100 million

French luxury group Kering said on Wednesday it had reached an agreement witth Investindustrial for the sale of of Italian luxury shoemaker Sergio Rossi for 100 million euros.

The deal includes Sergio Rossi’s industrial assets, rights attached to its brand and the entire distribution network, the French company said in a statement, without disclosing the financial terms.

Sergio Rossi, based in Milan, has over 80 stores worldwide and registered a turnover of 82 million euros in 2014. The transaction is expected to close in the coming weeks, Kering said.

Sergio Rossi Fall Winter 2015