Compagnie Financière Richemont SA (SWX:CFR) agreed to acquire 70% in Gianvito Rossi Srl on July 28, 2023. Gianvito Rossi, Founder, Chief Executive Officer and Creative Director of the eponymous brand, will retain a stake in the company and continue to nurture and develop the Maison in partnership with Richemont. The company will report the performance of Gianvito Rossi under the ?Other? business area, which mainly comprises the Fashion & Accessories Maisons. Gianvito Rossi will also work with Richemont to nurture and develop the Maison. Completion remains subject to certain customary conditions and regulatory approvals. Richemont said that the transaction will have no material financial impact on its consolidated net assets or operating results for the year ending 31 March 2024. Delfino e Associati Willkie Farr & Gallagher and Bonelli Erede Pappalardo Studio Legale acted as legal advisors to Richemont. The competitive process was organized by Rothschild and Pedersoli Studio Legale.

Compagnie Financière Richemont SA (SWX:CFR) completed the acquisition of 70% in Gianvito Rossi Srl on January 31, 2024.