First Shoe Creative Director Hired By Ferragamo

Salvatore Ferragamo SpA

This year, we sent creative director Massimiliano Giornetti and CEO Michele Norsa to seek reform.

It is reported that Eraldo Poletto, the former CEO of Furla SpA, may be the first to hire Salvatore Ferragamo SpA Ferragamo.

Creative director.

According to the quoted news, this pioneer was chosen by Paul Andrew, a British designer who had risen rapidly in recent years by the same name shoe luxury brand.

The 37 year old Paul Andrew is also a shoe design consultant for footwear brand Via Spiga and fashion brand Theory. Before he founded the brand in 2012, he spent most of her career in Donna Karan, vice president of footwear accessories design. He had worked in Calvin Klein and Narciso Rodriguez.

From this autumn, his brand expanded the category of men's shoes.

If Paul Andrew really joins Ferragamo, Salvatore Ferragamo SpA, the classic Italy brand's core shoe business will benefit from its simple and elegant design style, helping to open up the young people market with a slightly more serious and old-fashioned brand.

In the first half of fiscal year, footwear contributed 43.5% of revenue to Salvatore Ferragamo SpA, Ferragamo, which was the only group to achieve growth. However, after excluding the exchange rate effect, it recorded a year-on-year decline of 0.8%, falling to 308 million 700 thousand euros, but the decline was far below the three major categories of leather goods, garments and accessories.

The leather goods income was 263 million 500 thousand euros, after excluding the exchange rate effect, the annual decline was 4.1%; the clothing and accessories were the worst, and 6.7% and 6.4% fell respectively.

When the group announced that Massimiliano Giornetti ended its 16 year service in March this year, Michele Norsa Norsa, chief executive officer, stressed that the policy of developing two core categories of footwear and leather products will not change. He also said that the group took the opportunity to examine the way of creativity, temporarily focus on enhancing the strength of the internal design team, and also hope to use young designers to bring young consumers including the Millennials.

In order to achieve this goal, Salvatore Ferragamo SpA Ferragamo has launched the limited capsule series in recent months with the designers of Edgardo Aquazzura, handbag designer Sara Battaglia and jewelry designer Daniela Villegas respectively.

Data show that, in the first half of fiscal year, Salvatore Ferragamo SpA, Ferragamo achieved operating profit of 135 million 500 thousand euros, basically flat at 135 million 600 thousand euros in the same period last year, with a profit margin of 19.1%, an increase of 30 basis points compared with the same period last year. The core profit EBITDA increased by 0.9% to 166 million 100 thousand euros, while the EBITDA profit margin increased by 60 basis points to 23.4%.

During the period, the four major markets had regressed. The decline in the Asia Pacific market's 4% revenue was mainly caused by the decline of the Hongkong market. The retail revenue in mainland China increased slightly by 1%, while the retail business and wholesale business in the North American market also offset each other.

The Japanese market began to decline because of the appreciation of the yen.