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.
As part of the deal, Ferragamo will leverage Farfetch technology to power its website and omni-channel capabilities. The brand will also work with Farfetch on digital advertising and expand its presence on the luxury platform’s marketplace.
The aim is to fuel “plans to reach new, younger audiences and accelerate our growth,” Gobbetti said in a statement. Earlier this year, the executive outlined a strategy to double sales to around €2.2 billion ($2.4 billion) in less than five years, tapping buzzy, young British talent Maximilian Davis to oversee a creative refresh.
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Ferragamo’s Plan to Double Sales Under a New CEO
Former Burberry boss Marco Gobbetti says the brand will race to refresh its products and image in a bid to attract Gen-Z clients.
Fashion brands are edging in on the world’s largest gathering of design professionals and their wealthy clients, but design companies still dominate the sector, which is ripe for further consolidation, reports Imran Amed.
Blocking the deal would set a new precedent for fashion M&A in the US and leave Capri Holdings in a precarious position as it attempts to turn around its Michael Kors brand.
After preserving his fashion empire’s independence for decades, the 89 year-old designer is taking a more open stance to M&A.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.