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.

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