default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Ferragamo Brings Back Former Chief Executive to Help Post-Pandemic

Michele Norsa has returned to serve as executive deputy board chairman.
Ferragamo store front | Source: Shutterstock
By
  • Reuters

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.

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

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Workplace & Talent
Analysis and advice on the future of work, careers and management.

Discover the most exciting career opportunities now available on BoF Careers — including jobs from Tapestry, Tomorrow and Galvan.


Slogan T-shirts, themed sneakers and marketing emails that mention the heritage celebration are rarer this year, as consumers grow tired of cash-in collections and corporate diversity efforts face a backlash. Some brands say they’re steering resources away from flashy gestures and towards more meaningful work.



view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024