Salvatore Ferragamo S.p.A.
| File:Sferragamo logo.gif | |
| Company type | Private |
|---|---|
| Industry | Luxury goods (leather goods, prêt-à-porter) |
| Founded | 1927 |
| Headquarters |  Florence, Italy |
Key people | Ferruccio Ferragamo (Chairman), Michele Norsa (CEO and General Manager) |
| Website | http://www.salvatoreferragamo.it |
The company Salvatore Ferragamo Italia S.p.A., founded in 1927 by designer Salvatore Ferragamo, is a luxury brand with more than 450 stores in over 55 countries. It sells footwear, handbags and small leather goods, scarves and ties, men's and women's ready to wear, bijoux, watches, fragrances and eyewear.
History
The company was founded in 1927 by Salvatore Ferragamo, who fashioned shoes for wealthy and powerful clients, including the Maharani of Cooch Behar, Eva Peron, and Marilyn Monroe, in Florence, Italy. In 1929 Ferragamo opened a workshop in the Via Mannelli, concentrating his efforts in experimenting with design, applying for patents for ornamental and utility models and some related inventions. Forced to file for bankruptcy in 1933 due to bad management and economic pressures, Ferragamo nonetheless expanded his operation during the 1950 to a workforce of around 700 expert artisans that produced 350 pairs of hand-made shoes a day. Since Ferragamo's death in 1960, the company has expanded its operations to include luxury shoes, bags, eyewear, silk accessories, watches, perfumes and a ready to wear clothing line. The company is run by Ferragamo's wife Wanda and their six children (Fiamma, Giovanna, Fulvia, Ferruccio, Massimo and Leonardo).
Locations
Italy
In addition to its historical Florence flagship store in Palazzo Spini Feroni, Salvatore Ferragamo has 2 flagship stores in Milan, 2 in Rome and another 14 stores in prestige high-streets in Naples, Genoa, Turin, Capri, Portofino and Venice.
Europe
In Europe it has 58 directly controlled stores, including a flagship in Paris's Avenue Montaigne and one in London's Old Bond Street. In France, Germany, the UK and Spain the brand is to be found in locations in major cities, as well as in Brussels, Montecarlo, Vienna and Amsterdam.
North America
Salvatore Ferragamo operates throughout the territory from Canada to Hawaii, with 25 directly controlled points of sale. In the United States, Ferragamo holds 15 boutiques in Arizona, California, Florida, Georgia, Hawaii, Illinois, Massachusetts, Michigan, Nevada, New Jersey, New York, and Pennsylvania. Of particular note the flagship stores in New York (Fifth Avenue), Beverly Hills, Boston (Copley Place) and Honolulu. In addition to its free-standing stores, there are many shop-in-shops and corners in top American department stores. Ferragamo recently finalized a lease at the newly opening Natick Collection in Natick, MA; the store plans to open in by December or early 2008.
Central and South America
Salvatore Ferragamo recently extended its direct control in Central and South America by setting up Ferragamo Mexico, which directly handles 10 points of sale in the country. It also has a select distribution circuit in numerous countries, from Venezuela to Brazil and Colombia.
Japan
Salvatore Ferragamo has had directly controlled operations in this key country since the early 70s and can now count on a distribution network of 64 directly controlled points of sale. It has two flagship stores, one in Tokyo, in the Ginza district, and the new flagship in Osaka, opened in October 2004. Twenty-seven percent of its revenue in 2005 (575m Euros) came from Japan only.[1]
Asia
Through its Hong Kong headquarters, Salvatore Ferragamo controls its distribution operations in the following ten countries in Asia and Oceania: Hong Kong (flagship in Canton Road), Taiwan, China (flagship in Shanghai), Korea (flagship in Seoul), the Philippines (flagship in Manila), Singapore (flagship in Paragon), Thailand, Malaysia (duplex flagship will be open at Pavilion Kuala Lumpur this September), Indonesia and Australia - totalling 64 directly controlled stores.
Officers and management
- Wanda Ferragamo (Salvetore's wife): chair of the boards of directors of ‘Salvatore Ferragamo Italia S.p.A.’, of the Group holding company, ‘Ferragamo Finanziaria S.p.A.’ and of ‘Palazzo Feroni Finanziaria’, which controls the Ferragamo Group’s other businesses (Ungaro and Lungarno Alberghi S.p.A.).
- Ferruccio Ferragamo: chief executive officer of ‘Salvatore Ferragamo Italia S.p.A.’ and of the Group holding company, ‘Ferragamo Finanziaria S.p.A.’.
- Leonardo Ferragamo: chief executive officer of ‘Palazzo Feroni Finanziaria’ and chairman of ‘Lungarno Alberghi S.p.A.’. He is also on the board of various other Ferragamo companies.
- Massimo Ferragamo: chairman of ‘Ferragamo USA’, which controls the American market. He is also on the board of various other Ferragamo companies.
- Giovanna Gentile Ferragamo: vice-president of the Group holding company, ‘Ferragamo Finanziaria S.p.A.’ and a director of various other Ferragamo companies.
- Fulvia Visconti Ferragamo: vice-president of ‘Salvatore Ferragamo Italia S.p.A.’ and head of the accessories division (silk scarves, shawls, ties and bijoux). She is also a director of various other Ferragamo companies.
See also
- Salvatore Ferragamo, the company's namesake and founder