Sergio Rossi close to a sale to Italian group Investindustrial
French luxury-goods group Kering SA may announce a sale of the brand to the private-equity firm as soon as next month, one of the people said, asking not to be identified as the talks are private. Discussions are ongoing and the deal may still fall apart, the people said.
Kering decided to dispose of Rossi after a strategic review, CEO Francois-Henri Pinault told Bloomberg in February. The group separated the Italian brand from its half-year accounts in July and attributed the 10.7 million-euro ($12 million) net loss from discontinued operations in the period mainly to the shoemaker. Rossi CEO Christophe Melard left the brand a year ago after a run of disappointing results.
Investindustrial which already owns furniture brand B&B Italia and lighting company Flos may create a luxury pole within the group, following the acquisition of Sergio Rossi.