Kering to sell shoemaker Sergio Rossi to Investindustrial

Luxury goods group Kering said on Wednesday it had reached an agreement with investment group Investindustrial for the sale of 100 percent of Italian luxury shoemaker Sergio Rossi.

The deal includes Sergio Rossi's industrial assets, rights attached to its brand and the entire distribution network, the French company said in a statement, without disclosing the financial terms.

Sergio Rossi, based in Milan, has over 80 stores worldwide.

The transaction is expected to close in the coming weeks, Kering said.