HONG KONG – (ACN Newswire) – Sitoy Group Holdings Ltd and a.testoni today announce the acquisition of the Italian luxury brand by the Hong Kong based group. Sitoy’s investment will allow a.testoni to maintain its identity, maximising its artisanal heritage and DNA through a rejuvenated long-term vision and strategy to drive the brand’s ongoing development and growth in the 21st century.
“We are very pleased to welcome a.testoni as a part of the Sitoy Group and work together to realize the full potential of the brand. As we celebrate our 50th anniversary this year, the acquisition marks an important milestone in the transformation of our retail and brand management business into a global dimension”, said the Chairman of Sitoy, Mr. Michael Yeung Wah Keung.
Mr. Bruno Fantechi, CEO of a.testoni said, “This important acquisition comes after many years of fruitful partnership in Mainland China, where Sitoy has been a key partner in developing the brand’s distribution. It recognises the inherent value in the brand’s unique levels of quality, craftsmanship and innovation which will drive significant future growth and development.”
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a.testoni, established in 1929 in Bologna, Italy, is a worldwide symbol of the excellence of “Made in Italy”. From its strong craftsmanship roots, the company has grown into an international luxury brand through constant innovation and design research. Sold through a network of 40 directly operated stores as well as multiple franchise stores and wholesale partners, the Brand is sought out for its unique combination of heritage, artisanal construction techniques and innovation in use of materials and design.
Sitoy Group Holdings Limited, a Hong Kong based company listed on the Hong Kong Stock Exchange (SEHK:1023), was founded in 1968. Today it is one of the world’s leading manufacturers of handbags, small leather goods, luggage and travel goods, with a growing retail and brand management portfolio, adopting a vertical integration strategy. Sitoy is a significant partner to premium and luxury international brands in both arenas.