Ferragamo lost more than expected. Revenues for the second quarter of 2020 drop by 60%: twice the loss suffered between January and March. And so, the half-yearly turnover staled at 377 million euros: -46.6% at current exchange rates, and -46.9% at constant exchange rates. The maison underlines how, “as of July 25, 2020, there has […]
Organization. Proficiency and expertise. Passion. Such are the three main ingredients of Salvatore Ferragamo’s shoemaking factory. These elements, along with the ambition of employees currently working in the Florence plant, are the ones that make feasible the manufacturing of top-quality shoes. According to Vanity Fair, observing the process is like “watching a fast forward movie”....
Ferragamo did it too, therefore joining the number of luxury brands that have eventually raised prices. In fact, likewise, the Florentine fashion brand has raised its prices, for some products, by 5 to 7%. For the records, the company did not announce such increase, which they have applied in all of the markets: a spokesperson […]
Research, innovation and intergenerational collaboration. Three are the values inspiring the synergy between Lineapelle and Polimoda: the trade fair organisers and the Tuscan academy have signed the agreement for the creation of a Research Hub in Scandicci, the center of investigation, development and promotion of leather products and the material that constitutes it. “The project […]
What about big brands? Well, they have shoulders wide enough to handle the Coronavirus hit. Manufacturers of luxury goods, on the other hand, are in crisis: that’s the Made-In-Italy cluster, made of micro, small and medium companies that supply global luxury brands. They are the ones at risk. According to Bain & Co. total turnover […]
While spotlighting the trend, we may talk, to begin with, about a spin involving Gucci and Bottega Veneta, that is, two fashion brands of Kering group. The former has been, for a long while, a top performer, with regard to earnings, and the flagship brand for high-end trend, though contaminated by casual style: now its...
The real phase 2 for high-end Italian products can only really begin with luxury tourism. Leonardo Ferragamo, son of Salvatore and manager of the high-end group, is sure of it. So sure, inf act, that he suggested the government creates an ad-hoc ministry, which always according to him is the only way to show that […]
Neiman Marcus’ list of creditors is a parterre de roi of fashion brands. The luxury retailer headquartered in Dalla asked, last week, for Chapter 11. Since the middle of March, the Covid-19 pandemic has forced the entity to close down all stores branded Neiman Marcus, Last Call and Bergdorf Goodman. A “large portion” of employees was either fired or their […]
CRV ruins Ferragamo’s quarter: the luxury brand’s sales decreased by over 30%. The company suspended the payment of dividends on 2019’s profits and created and internal anti-coronavirus committee. The group has said it looks towards China to recover. The quarter is ruined Salvatore Ferragamo communicated its preliminary results for the first quarter of 2020. Consolidated revenue […]
Ferragamo are going to strengthen their supply chain. In fact, as reported by Il Sole 24 Ore, the fashion brand bought out Arts, a “family” footwear-making workshop. In fact, Jerry Ferragamo, 91 years old, who is the current owner, is also Salvatore’s grandson: he founded the business in 1984. The deal worth was 15 million […]
In China, things are gradually going back to normal. Yet, in the meantime, Covid-19 outbreak starts spreading across the United States: therefore, one of the most important fashion markets is about to brace itself for a work closure period alongside a downturn in sales. Stock Exchanges and financial markets wonder about consequences: for sure, they […]
2019 brings back the positive sign to Salvatore Ferragamo’s sales. The luxury brand hadn’t had a positive year since 2015. The result is particularly significant because obtained even with the deeply negative drop of Hong Kong’s sales (-45% in the third quarter and -50% in the fourth). Ferragamo seems to once again see the light: […]
Beware of luxury, because it is slowing down. The alarm was raised by Bank of America, which drafted the Global Luxury Demand Indicator. And they found that the indicator of global luxury demand went negative. Not only that: it fell to its lowest level since the second quarter of 2016. In the fourth quarter of […]
Aquazzura is tempting private equity funds. And, in turn, is looking for a way to spark their interest. According to Il Sole 24 Ore, Aquazzura is looking for partners. In other words, the luxury footwear brand could open the door to a minority investor. The assignment Aquazzura is the brand founded by Edgardo Osorio in […]
Menswear on stage for the presentation of 2020-2021 winter collections in Milan, from January 10 to 14. The calendar started in London (January 4-6) and now touches down in Italy. The next appointment is Paris, from January 14 to 19. Then, there is New York (February 2-4). From Friday January 10, Milan Men’s Fashion will […]
The first 9 months of 2019 put a spotlight on Ferragamo’s financial ups & downs. In summary, the third quarter closed with a decrease in sales. Which, mostly due to external reasons, interrupts the (finally) positive trend that took place during the first semester of the year. Positive, yet interrupted, but in the end confirming […]
“If you want us, you will have to pay more”, Tiffany tells LVMH. The French maison replies: “We are studying it, and soon we will present it to you”. This could be the hypothetical exchange between the two luxury giants. Among which, as we know, “tight” negotiations are underway, that could lead to the sale […]
Millennials are contradictory, economisers and by far challenging to fashion industry. We generically refer to them as “youngsters”, though perhaps we had better call them the new adults. They are the new generation of buyers, which fashion business must target and understand. Aiming at that, Il Sole 24 Ore, together with Bain & Co. consulting...
LVMH offers 14.5 billion USD to buy Tiffany. If the sale was to be approved, it would be the largest acquisition in the history of the French conglomerate. On the other hand, as for now, rumors say that an American dismissal of the proposal is “very likely”. The reason? The offer is too low: “Arnault […]
