The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MILAN, Italy — Italian luxury group Salvatore Ferragamo has called back former Chief Executive Michele Norsa as executive director to help management revamp the brand and weather the Covid-19 storm.
In a statement on Wednesday, the company said Norsa had been appointed to the board as executive deputy chairman as part of plans to change governance at the fashion house.
Under the new structure, the group's majority shareholder, family holding Ferragamo Finanziaria, will focus on strategic planning, while the running of the company will be left entirely to executive managers.
The company said Ferruccio Ferragamo would keep his position as chairman but that Norsa would take over his executive powers.
ADVERTISEMENT
Norsa was chief executive at Ferragamo for around 10 years before leaving in 2016. He later joined rival fashion firm Missoni at the behest of state-backed investment company FSI.
After his departure, Ferragamo set about reorganising its business to sustain sales but went through a period of turbulence, changing managers several times.
Norsa will start in his new role on May 28 and will work closely with the group's CEO Micaela le Divelec Lemmi, the company said.
The luxury industry worldwide is facing a major sales hit due to the health emergency which first emerged in China, home to more than a third of global luxury shoppers.
By Stephen Jewkes, Claudia Cristoferi; Editor: Mark Potter
Discover the most exciting career opportunities now available on BoF Careers — including jobs from Gucci, Simone Rocha and Bloomingdale’s.
BoF spoke to HR executives and talent experts at Alexander McQueen, On and Deckers Brands — global employers currently recruiting on BoF Careers — to understand what skills are most relevant to the fashion industry and how to upskill in them in the workplace.
The nature of working in retail is changing at pace as the purpose of stores continues to evolve. BoF Careers examines how in-store employees can hone and develop their skill sets for success in retail or its adjacent industries, sharing expertise from retail leaders and fashion executives who began their careers on the shop floor.
A tailored recruitment service offering specialist support to secure top-tier talent for your open roles — from entry-level to C-suite positions across fashion, retail, luxury and beauty.