Fosun bought shoemaker Sergio Rossi and starved it — revenue fell 30%, brand for sale

Sergio Rossi was founded in 1951 in San Mauro Pascoli, Italy, by the artisan shoemaker of the same name. The brand built a global reputation for handcrafted luxury women's shoes, often called 'the shoes of the stars.' It was acquired by Kering (then PPR) in 1999 and grown into an international luxury footwear label with boutiques from Milan to Tokyo.

Kering sold Sergio Rossi to Investindustrial in 2015 for an undisclosed sum. In 2019, Chinese conglomerate Fosun acquired the brand through its fashion subsidiary (later Lanvin Group), adding it to a portfolio that included Lanvin, Wolford, St. John Knits, and Caruso. The strategy was to build a Chinese-owned luxury group to rival European conglomerates.

Under Fosun, the brand struggled. Fosun's own financial difficulties after 2022 diverted attention and capital from its European brands. Management changes, lack of investment in product development, and an unclear strategic direction saw Sergio Rossi lose ground to competitors. Revenue fell from €41.9M in 2024 to €29.5M in 2025 — a 30% drop in a single year. By September 2025, Lanvin Group was in advanced talks to sell the brand to Massimo Bonini, a Milan-based luxury shoe distributor. A voluntary exit plan was offered to the 180 employees.