Sitoy Group buys A.Testoni
Hong Kong leather goods manufacturer Sitoy Group has acquired Italian luxury brand A.Testoni.
Sitoy’s investment allows A.Testoni to maintain its brand identity and maximise on its artisanal heritage in a long-term strategy to drive the brand’s ongoing development.
Sitoy’s chairman Michael Yeung Wah Keung said: “We are very pleased to welcome A.Testoni as a part of the Sitoy Group and work together to realise 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.”
CEO of A.Testoni Bruno Fantechi said the 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.”