Shoe manufacturer and distributor Gino Rossi is set to acquire an unnamed fashion company in Poland, the company has revealed.

A letter of intent has been signed by the company for the 100% acquisition of the company, with due diligence completed last week. The acquisition should be complete by the end of September.

"The planned transaction is another step towards the establishment of a fashion house managing a portfolio of complementary brands from the mid-market and upscale segments," said the company in a statement.

Gino Rossi's activities in Poland generated consolidated revenue of PLN56.1m (US$17.9m) in the first half of 2006, up more than 20% on the same period in 2005.