Italian luxury shoemaker Sergio Rossi, owned by PPR Group, has announced that it will buy out 5 major boutiques of its franchisees business in Beijing, Shanghai, Ningbo and Shenzhen in September 2011. The buy-out will allow the brand to carry out directly its overall development strategies and reinforce its global leading position in China and the entire Asia Pacific region.
Sergio Rossi was established in 2006 as a franchisee operation in Beijing. It was the first luxury shoe brand to make its presence in the China market, striving to provide customers in different cities the best quality Italian footwear as well as a luxurious shopping experience.
In the past five years, the brand has rapidly grown to a portfolio of eleven locations in China. Five of these stores will now join the Sergio Rossi network of directly operated stores.