To expand in the Chinese market, Italian fashion brand Sergio Rossi has announced plans to buy back five franchised stores in China from Kutu Trading, its cooperating partner in Shanghai.
The five stores are reportedly in Beijing, Shanghai, Ningbo and Shenzhen. Meanwhile, Sergio Rossi will maintain its cooperation with Sichuan Lessin department store, preparing for the company's development in the second- and third-tier cities in China.
Christophe Melard, chief executive officer of Sergio Rossi, told local media that they entered the Chinese market five years ago and they are ready for further development. For the next step, the company plans to double the number of its stores in China.
Sergio Rossi has 42 self-owned stores as well as 36 franchised stores worldwide. It also has an Internet shop in the United States. Melard said he is optimistic about Sergio Rossi's development in China because the Chinese consumers have grown mature and pay more attention to quality and comfort, instead of the brand symbol alone.
In addition, Sergio Rossi made some changes for the Chinese market and will design more comfortable shoes based on the popular colors and materials among Chinese consumers. In the future, the brand will launch accessories like bags in China.