Is Richemont eyeing luxury shoe brand Gianvito Rossi?

According to various Italian news outlets, Swiss luxury group Richemont has made a 100 million euro offer for Gianvito Rossi, an Italian luxury shoe brand.

Richemont has reportedly outbid Diesel parent OTB, which has also expressed interest in making new acquisitions.

Richemont, known for its strong hard accessory brands like Cartier and Van Cleef & Arpels, recorded sales of 19.95 billion euros, exceeding analyst expectations.

If confirmed, the acquisition would expand Richemont's presence in the fashion and footwear sector, which currently includes brands like Alaïa and Chloé.