A.Testoni bought by Hong Kong-based Sitoy
Italian luxury footwear label A. Testoni has been bought by Hong Kong group Sitoy, a high-end leather goods manufacturer and distributor. Sitoy is also Testoni’s distribution partner for Greater China
Sitoy’s main objective with the deal is to relaunch A. Testoni “by implementing a medium and long-term strategic vision promoting the label’s expansion and recognition.”
According to Bruno Fantechi, CEO of A. Testoni, this acquisition follows "many years of rewarding collaboration in continental China", where Sitoy has been a key partner for the brand’s development. The Hong Kong-based group has a ambitious retail expansion plan in the pipeline for A. Testoni in China, and it already started deploying it with three store openings in Chongqing and Shanghai earlier this year.
A. Testoni was founded in 1929 by Amedeo Testoni, who started its business with a small store in the heart of the city of Bologna. The label is now present the world over, distributed through directly owned monobrand stores and select multibrand retailers.
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