Sergio Rossi partners with Luxba Group for China push
In a full relaunch, Sergio Rossi has entered into a new strategic partnership with Luxba Group. The luxury shoe brand announced it has signed off on an agreement with the young Hong Kong billionaire and entrepreneur Adrian Cheng, to develop the footwear brand via franchise stores in the crucial Chinese market.
Last year, the shoe label closed its ten franchise stores, previously opened across the country with another distributor. In changing partners, the luxury Italian footwear firm hopes to make "a solid relaunch in the country."
"We chose a partner who has the resources, experience and a vision that is in line with ours to help us go further. The Luxba group, with Adrian's network, makes for such a partnership and we are very happy to be working with him," said CEO, Riccardo Sciutto, in a press release, without providing exact details of the new deal.
The grouping with Adrian Cheng, who is also the executive director of jewellery manufacturer retailer Chow Tai Fook Jewellery Group, should prove itself strategic for the shoe brand. In addition to Cheng's favour with the Chinese market, the 37-year-old launched in October last year his C Ventures firm, created to house a stable of brands and digital platforms suited specifically to Millennials and Generation Z, a definite target market for Sergio Rossi.
Adrian Cheng has already attracted the likes of Moschino and Disquared2.
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