Emerisque becomes the favourite to buy Kering’s Sergio Rossi
30 Jul 2015
Emerisque is currently in pole position to acquire the shoe brand Sergio Rossi, still owned by Kering.
As reported by Italian media, the two companies would be already in negotiation, but the fundamental issue under discussion still would be the price of the deal, which could be around 40 to 50 million euros, including the brand's factory outside Florence, reports ‘WWD’.
Sergio Rossi’s turnover substantially decreased in 2014, from 99 million euros in 2004 to 83 million in 2014, highlights ‘Pambianco’.
Competing against Investindustrial and Lion Capital, Emerisque already own the brand Henry Cotton, Marina Yachting, and license 18CRR81 Cerruti, detected by Moncler, and MCS (formerly Marlboro Classics), acquired from Valentino Fashion Group.
According to rumours, the other two contenders in the race, the funds Investindustrial and Lion Capital, have withdrawn, reports ‘FashionMagazine’.
Last February, François-Henri Pinault, advanced that "Kering - had declared Pinault - has initiated a strategic review of the brand Sergio Rossi, to explore the opportunity to keep in the portfolio for the medium to long term."
"The sale is one of the options," he then concluded Pinault. And, in fact, in the consolidated financial statements of 2014 Kering participation in Sergio Rossi is classified as assets available for sale.”