Ferragamo appoints new CEO as revenue continues to f - leatherbiz: Lea Leatherbiz

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Ferragamo appoints new CEO as revenue continues to fall

03/08/2018
Italian luxury group Salvatore Ferragamo saw its revenue fall 6.2% year on year in the first half of 2018, continuing what is proving to be a difficult period for the company.

Its revenue for the first six months of the year was €674 million, on which it achieved a net profit of €59 million. This figure is 23.1% lower than for the same period of 2017.

Footwear was the product category that took the biggest hit, with sales down 5.5% in the first half. The company’s handbags and leather accessories division saw its revenue increase 1.6%.

Ferragamo also announced it has appointed former Gucci executive Micaela Le Divelec as its new chief executive officer. She has taken over immediately, having been in the position of managing director since April.

The company has been looking for a new CEO since March, when Eraldo Poletto left the role after just 18 months. 

Related stories:

Ferragamo makes a strong start to 2019 16/05/2019
New creative director at ‘not for sale’ Ferragamo 28/02/2019
Ferragamo promotes from within for new CFO 17/12/2018
Revenue continues to decline at Ferragamo 14/11/2018

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