Ferragamo rights itself in Q1 as next brother takes the torch
13/05/2021
The Asia Pacific area, which makes up half of sales, grew 50%. European revenues were down 20% because of the lockdowns and lack of tourists; sales in North America increased 10%.
At a recent board meeting, chairman Ferruccio Ferragamo handed the reins to his brother, after 15 years at the helm. He thanked his family and colleagues, adding: “I would like to extend special thanks to my mother, the true architect of Salvatore Ferragamo’s international success. The example she set and her teachings have been invaluable to me throughout this long journey.
“I am passing the torch to my brother Leonardo with the knowledge that he will continue to guide the Company upholding the principles and values that have always defined our family.”
Leonardo Ferragamo said: “It is with immense honour and a deep sense of responsibility that I fill this position, which was first held by my father Salvatore until his death in 1960, then for many years by my mother, before becoming my brother Ferruccio’s for the past 15 years.
“With dedication and passion, I will strive to let their teachings and values be my guide, along with those that my family has conveyed to the Company and those that our so many wonderful employees in Italy and abroad have upheld, earning for our brand, over the years, with their tireless work, vision and enthusiasm, the respect it deserves around the world.”
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