Salvatore Ferragamo news and archive

Ferragamo confirms Marco Gobbetti as CEO

Marco Gobbetti will retain his position at Salvatore Ferragamo for another two-year term, until 2026. The newly elected board of directors has also confirmed Gobbetti's role as general manager and CEO, currently holding 134,766 shares in the company listed on Euronext Milan, reported Pambianco News. The company also confirmed Leonardo Ferragamo...

Culture

Salvatore Ferragamo launches podcast on the rise of fashion house

Salvatore Ferragamo is launching a new ‘Shoemaker of Dreams’ podcast series this month on the birth and rise of the Italian fashion house, following the steps of its founder. The eight-part series, produced for Museo Ferragamo by Italian podcast company Chora Media, focuses on the story of Salvatore Ferragamo, “who transformed shoes into...

BusinessFeatured

Ferragamo posts drop in FY23 sales and profit

The Salvatore Ferragamo Group reported revenues of 1,156 million euros, down 7.6 percent at current exchange and down 8.1 percent at constant exchange rates for FY23. The company attributed the decline to the transition of the product offer, while continuing the optimisation of the network, against the backdrop of a softening luxury market,...

Business

Ferragamo sales drop in 2023

Salvatore Ferragamo reported preliminary revenues of 1.157 million euros, down 7.6 percent at current exchange rates and down 8.1 percent at constant exchange for fiscal 2023. Commenting on the trading update, Marco Gobbetti, chief executive officer and general manager of the company said: “We are conscious of the work ahead of us and remain...

People

Ferragamo appoints Pierre La Tour as Group CFO

Salvatore Ferragamo has appointed Pierre La Tour as Group CFO, effective March 18, 2024. The company said in a release that La Tour has also been designated by the company's board of directors as manager with strategic responsibilities, due to the prerogatives and tasks assigned to him related to the areas of administration, finance, control and...

Business

Salvatore Ferragamo acquires minority stake in three Greater China JVs

The Salvatore Ferragamo Group has confirmed the purchase of the minority interests held by Imaginex Holdings and Imaginex Overseas in three joint ventures, Ferragamo Moda Shanghai (FMS), Ferragamo Retail Macau (FRM) and Ferrimag (FIM), incorporated to distribute Ferragamo products in the Greater China area. Commenting on the development,...

BusinessFeatured

Ferragamo posts sales decline but confirms positive outlook

For the nine month period, the Salvatore Ferragamo Group reported revenues of 844 million euros, down 8.3 percent at current exchange and 9.2 percent at constant exchange rates, impacted by a negative perimeter effect both in retail and wholesale channels. Commenting on the trading update, Marco Gobbetti, the company’s chief executive officer...

Fashion

City of Milan and Ferragamo launch scholarship project to support local fashion talent

The project entitled 'Milan and Ferragamo for the training of young talents', a synergy between the Milan City Council's Department of Labor Policies, the Salvatore Ferragamo Group and the ETS Fashion Training System Platform has been presented in Milan. The aim of the project is to provide support for a high-level training path for four...

Fashion

Ferragamo unveils ‘new direction’ in Renaissance campaign

Italian luxury label Ferragamo has revealed “a completely new direction” for the brand via a new Renaissance campaign that reconnects it to its Florence roots. Through the use of paintings courtesy of the city’s Le Gallerie delgi Uffizi, Ferragamo looked to reference its “rebirth” while further linking to the Italian Renaissance, a period in...

Business

Salvatore Ferragamo CFO to become CEO of MinervaHub

Alessandro Corsi, the chief financial officer of Salvatore Ferragamo, will be stepping down from his role at the luxury fashion group to become chief executive officer of Italian manufacturing company MinervaHub. Set to assume the position on October 2, Corsi has been tasked with implementing the artisan industrial model of MinervaHub with an...

Business |Opinion

Ferragamo's turnaround is taking longer than expected

In March of this year, Italian luxury footwear artisan Salvatore Ferragamo publicly communicated its strides of an intricate turnaround strategy. Though the 10.8 percent contraction in its operating profit for the fiscal year 2022 was somewhat less severe than initially anticipated, the brand continues to grapple with a deceleration in sales. On...

BusinessFeatured

Salvatore Ferragamo sales and profit decline in H1

Revenues at Salvatore Ferragamo of 600 million euros were down 4.8 percent or 7.2 percent at constant exchange rates in the first half period. Gross profit increased to 72.2 percent of revenues, up 40 bps, operating profit (EBIT) of 47 million euros declined 50.8 percent, EBITDA of 134 million euros was down 25.6 percent and net profit reached...