ITALY: LVMH Pumps Up Footwear Business, Denies Magli Rumours
Luigino Rossi and his two brothers are now set to sell a 45 per cent stake in the RossiModa business to LVMH.
LVMH refused to comment on rumours of its potential acquisition of Bruno Magli.
LVMH plans to present a business strategy shortly on developing several secondary licences for more affordable footwear models under a number of fashion brands, possibly beginning with Marc Jacobs.
Louis Vuitton's production capacity is being raised by 20 per cent this year, with the planned opening of its fourteenth factory, and new stores are planned for China, India and Russia.
The total number of LVMH stores will be raised from 284 to 300 this year, including 42 global stores, 14 featuring ready-to-wear and footwear and 83 others featuring footwear and leathergoods.
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