The label has confirmed Micaela Le Divelec Lemmi and Michele Norsa in their roles as CEO and executive vice-president, while Ferruccio Ferragamo has relinquished the non-executive president role to his brother Leonardo.
Italian luxury goods group Salvatore Ferragamo said on Tuesday that China and e-commerce had lifted 2021 sales so far, after posting its first full-year operating loss since listing 10 years ago because of the pandemic.
Sales at Salvatore Ferragamo fell by 20% in the fourth quarter, broadly in line with expectations, as new lockdowns in Europe to fight a resurgence of COVID-19 more than offset a strong rebound in China.
After being forced to halt production for weeks, the luxury industry's supply chain is slowly restarting in Italy and France. The system has been battered by the Covid-19 pandemic, with many sub-contractors struggling.
Salvatore Ferragamo said it could not provide guidance on expected sales for 2020 due to the uncertainty caused by the coronavirus pandemic, which led to its revenues falling by nearly a third in the first quarter.
Italian luxury group Salvatore Ferragamo said first-quarter revenues could fall by up to one third due to the spreading coronavirus outbreak, and said it was impossible at this stage to evaluate the full impact.
Italy’s luxury shoemaker Salvatore Ferragamo saw a return to growth in the first quarter of 2019, after revenues and net profit increased on the back of retail and wholesale revenues, and surging sales growth in China.