An important change in the luxury world is on the way with a new CEO and managing director to replace Micaela Le Divelec Lemmi, who has headed the Florentine luxury fashion house since 2018. Indeed, the Ferragamo Group has announced that Marco Gobbetti will be the company’s new CEO by the end of 2021, as soon as he is free from his current contractual obligations. The manager from Vicenza, who is still the current CEO of the British company Burberry. Graduate at the University of Washington has significant experience thanks to his successful career in fashion and luxury world.
Bottega Veneta, Valextra, Moschino, Givenchy, Céline and Burberry are some of the most important milestones on his successful path, and his international reputation and knowledge of Asian market, in particular China, justify the jump in Ferragamo’s share price and the slump in Burberry’s. In the last five years at Burberry, Gobetti had created and strengthened the team, the brand and the business and had set the company on the road to growth by defining and implementing a clear strategy. According to Murphy’s statements, the British company, while not hiding its disappointment at the choice of Ferragamo’s future CEO, says that it understands the choice above all because of the manager’s desire to return to Italy after a 20-year working absence.
Over the past year, Salvatore Ferragamo spa, the parent company of the Salvatore Ferragamo Group, which has a presence in Italy and around the world with a distribution network in over 90 countries, has been severely affected by the crisis caused mainly by Covid, but the 30% drop in turnover meant that the Italian company did not mention or publicly thank Lemmi for her work when announcing its new CEO. Under Gobetti, Salvatore Ferragamo will work to start growing again, at least initially following the recovery that is already taking place in the luxury sector and is confident that it will be able to enter new markets and build a solid and profitable business thanks to the Italian manager’s relational and business skills.
Salvatore Ferragamo is in fact one of the main players in the luxury sector, active mainly in the creation, production and sale of footwear, leather goods, clothing, silk products and other accessories, as well as perfumes for men and women, all made in Italy. The product range is also completed with glasses and watches made under licence by third parties in Italy and abroad, to exploit local excellence. Today, the Ferragamo brand is present on the market through a network of single-brand shops, directly managed by the retail channel. The Group also distributes its products through mono-brand shops and customised spaces managed by third parties.
The next few months of transition will be very delicate, because on the one hand the Italian company will have to renew its board of directors, and on the other, there are negotiations to sell the Ferragamo Parfums licence. In this context, Lemmi seems to want to take a step back to allow the manager in pectore to take part in the company’s affairs. In short, a great adventure for the new CEO!
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Article edit by Serena Pagano
CEO Fashion Mentor