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These are days of operations in the world of made in Italy luxury. After the acquisition of 30% of Valentino by the Kering group announced at the same time as the release of the half-yearly data, the confirmation of a rumor that has already spread in recent weeks has arrived: the Swiss group Richemont – which owns, among others, the brands of high jewelery and watches Cartier, Van Cleef & Arpels and Iwc and the brands Chloè and Serapian – announced that it had acquired a majority stake in Gianvito Rossi. The founder, CEO and creative director of the eponymous brand will keep a minority stake and will continue to work on the development of the brand in collaboration with the Richemont group. Although the value of the operation has not been disclosed, the valuation of the San Mauro Pascoli company, founded in 2006, should therefore be higher than 100 million euros: in fact, the company closed 2022 with revenues of over 100 million euros and Ebitda at 23 million which, in forecasts, will rise to 30 million at the end of 2023 – will maintain .
«Gianvito Rossi is an exceptional maison, with a unique savoir faire in the world of footwear. Its founding characteristics of uncompromising quality, elegance and timeless style are perfectly aligned with Richemont’s values,” explained Philippe Fortunato, CEO of the Fashion & Accessories Maisons division. «In Richemont I have found a partner who shares values with me such as the enormous attention to design, quality and craftsmanship and the desire to preserve traditions handed down from generation to generation. I have chosen them to continue developing the brand on a global scale due to their expertise and their model of expansion. Our partnership will benefit the company’s next stage of growth.”
The transaction – which was advised by Rothschild and which remains subject to the approval of regulatory bodies – will have no direct impact on the operating result or consolidated shareholders’ equity of the group for the fiscal year ending on March 31, 2024.