Italian luxury brand Salvatore Ferragamo has announced that Marco Gobbetti, former CEO of Burberry, will be taking over as its new CEO on January 1, 2022. This news comes as the company’s executive vice president, Michele Norsa, has decided to resign and step down from his position by the end of December.
Gobbetti’s appointment is seen as a major development for Ferragamo and signifies a new phase of growth and expansion for the brand on a global scale. Despite the challenges faced last year due to the Covid-19 pandemic, the Italian label has made a remarkable recovery, reporting a net income of 40 million euros in the first nine months of this year. This is a significant improvement compared to the same period last year when the company suffered a loss of 96 million euros.
One of the driving forces behind the brand’s recovery has been its strong sales in Asia and the United States. From January to September, revenue grew by 34% year over year, reaching a total of 785.3 million euros. This exceptional growth demonstrates the brand’s resilience and ability to adapt to changing market conditions.
Founded in 1927, Salvatore Ferragamo currently employs around 3,750 people. With Gobbetti at the helm, the brand aims to continue its growth and expansion in key markets across the globe.
Gobbetti brings a wealth of experience in the luxury fashion industry, having previously worked at renowned brands such as Moschino and LVMH. He held CEO positions at Givenchy and Celine during his time at LVMH. His extensive expertise and industry knowledge make him well-equipped to lead Ferragamo into a new era of success.
As Gobbetti assumes the role of CEO, the fashion industry will be closely watching the strategic direction he takes the brand in. With his proven track record and the positive momentum of the brand’s recent performance, Salvatore Ferragamo is poised for further growth and success in the luxury fashion sector.
Useful links:
1. Salvatore Ferragamo Official Website
2. Business of Fashion
