Ferragamo Implements Strategic Revival Plan Following First-Half Loss

Salvatore Ferragamo, the renowned Italian luxury brand, has announced a strategic plan aimed at revitalizing its sales and strengthening its brand presence amid declining consumer interest and uncertain economic conditions. Following the departure of CEO Marco Gobbetti in March, the company, based in Florence, reported an adjusted net loss of €16 million ($18 million) for the first half of the year, contrasting with a €6 million profit during the same period in 2024. The company has conducted a comprehensive review of its brand portfolio, identifying critical areas for growth and outlining a targeted action plan. Early initiatives implemented in the second quarter are expected to yield increasing results by year's end and extend into 2026. During the first half, sales declined by 7.1% at constant exchange rates, totaling €474 million. The drop was primarily attributed to weaker performance in wholesale channels and subdued consumer demand in the Asia-Pacific region. This strategic move reflects Ferragamo's commitment to adapting to market challenges and positioning itself for future growth amidst a competitive luxury landscape.