The Salvatore Ferragamo family, renowned for their ownership of the esteemed Italian fashion house, is currently mulling over the possibility of selling a partial stake in their holding company as a strategic move to revamp the brand and confront the obstacles posed by the ongoing Covid-19 crisis. Insider sources have disclosed to Reuters that informal discussions have been initiated with financial investors to consider this potential course of action.
In an effort spearheaded by Ferruccio Ferragamo, the company’s chairman and the son of the legendary founder Salvatore, talks with interested investors were instigated post-summer to explore the prospect of selling around 20% of the holding company that governs the business listed in Milan. While specific details of the potential transaction are shrouded in secrecy, insiders have hinted that the family is firm on retaining their majority stake and controlling interest. A company representative for Salvatore Ferragamo has publicly refuted any claims of an imminent stake sale.
Insider information suggests that the Ferragamo family are currently at a preliminary stage in assessing market interest, with potential investors possibly grappling with the family’s inclination to maintain governance control. Despite potential pushback, the Ferragamos appear resolute in their commitment to exhaust all avenues to invigorate and fortify the illustrious Italian fashion label amidst the prevailing uncertainty.
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