Fosun Fashion, a global luxury fashion group based in China, agreed to acquire Sergio Rossi, an Italian luxury footwear brand, from Investindustrial-backed Absolute Luxury, an independently-managed investment firm. Financial terms were not disclosed. "We are excited to have Sergio Rossi join FFG family, who we believe is one of the few leading shoemakers in the market. When we dived into the brand, we were captivated by its DNA which is deeply rooted in the creativity and expertise of its eponymous founder. The world of Sergio Rossi is a place where magic and reality come together to create handmade shoes for sophisticated, smart and effortlessly chic women," Joann Cheng, Fosun Fashion Group Chairman.