Ferragamo family reduces its stake in luxury group - leatherbiz: Leadi Leatherbiz

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Ferragamo family reduces its stake in luxury group

22/06/2018
The Ferragamo family, owners of Italian luxury group Salvatore Ferragamo, have confirmed they will sell a 3.5% stake in the company.

The sale of the shares aims to increase the free float of the company, which is considered too low by the family, according to Reuters, which quoted an anonymous source.  

The family owns 57.76% of Salvatore Ferragamo through its holding company, Ferragamo Finanziaria. However, family members are believed to control a total stake of nearly 70%.

The group reported a 1.7% year-on-year drop in sales in the first quarter of 2018. This followed on from a 3.1% decline in revenue in 2017.

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