Luxury footwear label A.Testoni bought by Hong Kongese group Sitoy
today Nov 23, 2018
Italian luxury footwear label A. Testoni has been bought by Hong Kong group Sitoy, a high-end leather goods manufacturer and distributor which is also Testoni’s current distribution partner for Greater China. Sitoy’s objective is to relaunch A. Testoni “by implementing a medium and long-term strategic vision promoting the label’s expansion and recognition.”
“This important acquisition has occurred after many years of rewarding collaboration in continental China, a market in which Sitoy has proved to be a key partner for the brand’s development,” said Bruno Fantechi, CEO of A. Testoni. “A.Testoni’s deep-seated values, its unique quality, craftsmanship standards and innovation ability will help us to grow significantly in the future,” added Fantechi.
The two mainstays of Sitoy’s new strategy for A. Testoni will be the label’s heritage and its DNA. Sitoy has already deployed an ambitious retail expansion plan in China for A. Testoni, whose most recent steps were three store openings in Chongqing and Shanghai last March.
“This year we are celebrating the group’s 50th anniversary, and this acquisition marks an essential stage in the evolution of our retail business and of the brand’s management towards a global dimension,” said the president of Sitoy, Michael Yeung Wah Keung.
A. Testoni was founded in 1929 by Amedeo Testoni, who started in business with a small store in the heart of the city of Bologna. The label is now present the world over, distributed via 40 directly owned monobrand stores and select multibrand retailers.
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