Italian luxury goods company Gucci have announced that they have acquired a 70% share of Italian men’s footwear company Regain for an undisclosed sum. Regain makes 70,000 pairs of shoes per year and employ 50 people.

A Gucci spokesperson said: ‘This acquisition represents an important step in the strategy of the Gucci group, which reinforces its presence in the shoe market.’

The acquisition comes after Gucci’s announcement that they have also bought Italian tannery Caravel Pelli Pregiate. Gucci have said that the acquisition of the tannery is aimed at giving Gucci control over their supply chain.