Gucci Group expands footwear capacity
The Florentine luxury goods and fashion empire Gucci Group has announced an agreement to purchase a 70% stake in Italian footwear company Calzaturificio Regain.
Gucci plans to expand its presence in the footwear market, a sector that already accounts for 11% of the group's sales. Following the purchase of Regain, which is expected to go through by September 2001, Gucci is planning to set up a state-of-the-art men's shoes modelling and prototyping facility for the Group’s brands.
Regain is based in the Marche region of Italy and specialises in men's shoes, producing more than 70,000 pairs of shoes per year and employing around 50 people. Financial details of the deal were not disclosed, but the company said that short-term the impact on earnings per share was expected to be minimal.
