French multinational company Kering Group is reportedly selling its Italian luxury brand Sergio Rossi.
Reports say the group, formerly called PPR Group, has appointed investment bank Mediobanca to manage the sale.
Sergio Rossi is said to be the group’s slowest brand in terms of growth. The brand has 54 company-operated stores and 30 franchises and has booked 70 million euros turnover in 2012.
Kering Group, which also owns Gucci, Saint Laurent, Stella McCartney, and Alexander McQueen, acquired Sergio Rossi in 2000.
The company attempted to boost the brand’s growth through series of repositioning and management changes, however, it remained sluggish.