Richemont announces that it has acquired a controlling stake in Gianvito Rossi, the renowned Italian shoemaking Maison, in a private transaction. Gianvito Rossi, Founder, CEO and Creative Director of the eponymous brand, will retain a stake in the company and continue to nurture and develop the Maison in partnership with Richemont.
Founded in 2006 in San Mauro Pascoli and headquartered in Milan, Gianvito Rossi is one of the world’s leading luxury shoe Maisons. It is recognised by clients all over the world for its sophisticated designs, unique savoir-faire and impeccable quality.
Gianvito Rossi’s footwear embodies the finest expression of Made-in-Italy craftsmanship, leveraging the longstanding tradition of luxury shoemaking in the artisanal heart of the San Mauro district, and benefiting from a precious family heritage, nurtured through generations.
Philippe Fortunato, CEO of Fashion & Accessories Maisons, commented, “Gianvito Rossi is an exceptional Maison with unique savoir-faire in the world of shoemaking. Its core attributes of uncompromising quality, elegance and timelessness are perfectly aligned with Richemont’s values.
We are delighted to welcome Gianvito Rossi, his family and his teams to Richemont and look forward to jointly ensuring the enduring creativity and the long-term development of this unique Maison.”
Gianvito Rossi, Founder and CEO and Creative Director of Gianvito Rossi, commented, “I have found in Richemont a partner who shares common values such as the greatest attention to quality, design and craftsmanship and the preservation of tradition handed down from generation to generation.
I decided to choose them to keep developing the brand worldwide and for their expertise and model of global expansion. Our partnership will be beneficial for the company’s next stage of growth, and we look forward to starting this exciting new chapter together with a spirit of fruitful cooperation”.
The transaction has no material financial impact on Richemont’s consolidated net assets or operating result for the year ending 31 March 2024. The performance of Gianvito Rossi will be reported under the ‘Other’ business area, which is mostly composed of the Fashion & Accessories Maisons. Completion remains subject to certain customary conditions and regulatory approvals.
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