Luxba Group selected as the new partner for Sergio Rossi
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A new strategic partnership with brand management company Luxba Group will help Sergio Rossi open franchise stores across China.
Following a full relaunch, the Italian women’s luxury shoe company has also signed an agreement with Hong Kong billionaire entrepreneur Adrian Chen to help achieve growth in China.
Sergio Rossi last year closed its 10 franchise stores in China it had opened with another distributor. In changing partners, it hopes to make a “solid relaunch” in the country.
“We chose a partner with the resources, experience and a vision in line with ours to help us go further,” says Sergio Rossi CEO Riccardo Sciutto. “The Luxba Group, with Adrian’s network, makes for such a partnership.”
Details of the agreement have not been disclosed.
Cheng, who is also executive director of jewellery manufacturer/retailer Chow Tai Fook Jewellery Group, six months ago launched C Ventures with the aim of creating a stable of brands and digital platforms specifically aimed at millennials and generation Z, a target market for Sergio Rossi. Already the venture has attracted brands like Disquared2 and Moschino.
Questions & Answers
Q.What is Luxba Group's role in Sergio Rossi's new strategy for China?
What is Luxba Group's role in Sergio Rossi's new strategy for China?
Luxba Group is a brand management company that will act as a strategic partner. It will assist Sergio Rossi in opening franchise stores across China, aiming for a solid relaunch in the country.
Q.Who is Adrian Chen and what is his involvement with Sergio Rossi?
Who is Adrian Chen and what is his involvement with Sergio Rossi?
Adrian Chen is a Hong Kong billionaire entrepreneur who has signed an agreement to help Sergio Rossi achieve growth in China. He also launched C Ventures, targeting millennials and Gen Z.
Q.Why did Sergio Rossi decide to change its partners in China?
Why did Sergio Rossi decide to change its partners in China?
Sergio Rossi had previously closed its 10 franchise stores in China opened with another distributor. The company hopes a new partner with the right resources, experience and vision will enable a 'solid relaunch'.
Q.Which specific demographic groups is Sergio Rossi targeting with this new strategy?
Which specific demographic groups is Sergio Rossi targeting with this new strategy?
The target market for Sergio Rossi, and for Adrian Chen's C Ventures, includes millennials and generation Z. C Ventures aims to create brands and digital platforms specifically for these groups.