Luxury Footwear Industry Is Eager To Get A New Turn.

For a long time

The industry is eager to get a new turn.

According to the world clothing shoes and hats net, because of traditional luxury shoes

There are widespread reasons for relying too much on classic styles, single product structure, and slow update speed. Young consumers have lost their sense of freshness to these brands and turn their attention to more innovative brands.

EDITD is also on luxury shoes.

The data analysis indicates that this category has increased by only 3.2% in the past two years.

The report also said that compared to the traditional shoe brand, Chlo, C, line, Gucci and other luxury brands launched more and more consumers' favor.

Faced with the downturn in the environment, Reuters quoted sources as saying that the Italy luxury shoe brand Salvatore Ferragamo, which was anxious to find a new CEO, will suspend the plan for the time being, and set up an administrative committee to guide the brand to accelerate its reform and reorganization.

Up to now, Salvatore Ferragamo has not responded to the news.

In fact, Eraldo Poletto is the first CEO of Salvatore Ferragamo hired from the family, so the brand has high hopes for Eraldo Poletto.

After he took office, he put forward a proposal to increase the digitalization reform besides exchanging blood for management.

At the same time, Eraldo Ferragamo also made adjustments to the brand creative team. After the departure of the original creative director Massimiliano Giornetti, Salvatore Ferragamo respectively appointed Paul Andrew as the design director of the first women's shoes in November 2016. Fulvio Rigoni is the design director of women's wear garments, and Guillaume is the design director of men's wear garments, aiming to achieve balanced growth of all kinds of departments.

As the three creative directors did not seem to have a positive impact on the growth of brand performance, last October, Eraldo Poletto decided to let Paul Andrew, the creative director of women's shoes, take over the design of the women's clothing series of Salvatore Ferragamo, while Guillaume Meilland continued to hold the men's wear series.

In the luxury footwear rankings, consumers' desire to buy Salvatore Ferragamo is only 2%, which has been squeezed out of the top ten.

However, the gradual reform of Eraldo Poletto has not yet worked. The continuous decline of the brand has exhausted the patience of the investors. It left abruptly in early February this year, and its position is temporarily replaced by the chairman Ferruccio Ferragamo.

After the dismissal of Eraldo Poletto, Ferruccio Ferragamo has said that the group will find a suitable chief executive as soon as possible, but it is estimated by the spokesman that it will take 18 months.

Another insider revealed that Alessandro Corsi, director and investor relations manager of Salvatore Ferragamo Europe, Middle East and Africa, was recently appointed as a senior consultant for the brand.

There was also news that Alessandro Corsi had clashed with the team promoted by Eraldo Poletto.

Founded in 1927, Salvatore Ferragamo has been one of the global leading groups in the field of luxury goods, mainly footwear, leather handbags, ready-made garments, silk fabrics, accessories and men's and women's fragrances.

The products also include glasses and watches produced by licensed manufacturers.

Salvatore Ferragamo was listed in June 29, 2011, and its large family members are holding shares of the listed group.

It is noteworthy that earlier, there was news that Salvatore Ferragamo was interested in moving the rescue from the hottest luxury brand Gucci in the moment, and Gucci veteran Micaela Le Divelec as a potential candidate for its CEO.

According to another source in Milan, Micaela Le Divelec, who joined the Gucci in 1998, has resigned from the position of senior vice president and chief consumer officer in March, but is limited to the competition agreement or will join Salvatore Ferragamo as a consultant.

Meanwhile, Eraldo Poletto, who failed to rescue Salvatore Ferragamo, quickly found a new job.

Coach parent Tapestry issued a statement on Tuesday announcing that Eraldo Poletto will act as the CEO and brand president of its shoe Weitzman brand Stuart Weitzman. In 2016, Wendy Kahn, chief executive officer of Stuart Weitzman, has already left.

The appointment will come into effect on April 30th. When Eraldo Poletto takes office, she will work closely with Stuart Weitzman creative director Giovanni Morelli and report to Tapestry CEO Victor Luis.

Victor Luis said that with the coming of the first series of Giovanni Morelli in the Stuart Weitzman and the repurchase of brand management rights in North China, the brand needs a leader with rich experience to manage the operation.

The picture shows Stuart Weitzman's latest advertising blockbuster.

In the eyes of Victor Luis, Eraldo Poletto, which has been on the luxury circle for 30 years, is the right person.

He stressed that the accession of Eraldo Poletto will help Stuart Weitzman and the whole team take a new step.

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Victor Luis also revealed earlier that Stuart Weitzman and Kate Spade still have great potential for development in South China and Southeast Asia. In the future, the group will gradually reclaim the operation rights of the two brands in these regions.

The 58 year old Eraldo Poletto entered the fashion industry in 1997 and served as the chief business officer in Casual Corner Group for nearly five years. Later, he joined the American designer's brand Adrienne Vittadini in 2001 to hold the same post, and served as the chief commercial officer of the high-end men's clothing brand Brooks Brother.

In September 2007, Eraldo Poletto was promoted to President of Brooks Brother's strategic development and globalization.

In 2010, Eraldo Poletto was appointed chief executive by Furla. It ushered in the most brilliant 6 years of its career. During its 5 years' term of Furla, she succeeded in helping Furla achieve the goal of doubling sales, and was regarded as a great hero of Furla.

Thanks to this, Eraldo Poletto was formally joined in the brand and served as chief executive officer in August 2016 in the Salvatore Ferragamo phase of Italy luxury shoe brand, which was deeply influenced by the footwear industry downturn. It replaced Michele Nosra who has been in the post for more than ten years.

Some analysts believe that Stuart Weitzman may be more suitable for Eraldo Poletto than Salvatore Ferragamo.

Although it is also a shoe brand, the experience of Stuart Weitzman and Salvatore Ferragamo is different.

In 1965, Stuart Weitzman took over the family business Mr.Seymour with her brother. In 1972, the two brothers sold the company to Spanish Company Caressa, while Stuart Weitzman continued to remain in charge of shoe design.

In 1994, Stuart Weitzman repurchased the company and changed the name of the company to its own name, and then co operated with Irving Place Capital in 2005 to expand globally.

In 2010, Stuart Weitzman sold most of the company's shares to the Jones group.

In January 2015, Stuart Weitzman was purchased by Coach (the predecessor of Tapestry group) for $600 million, and became the first brand of the group's acquisition.

After buying Stuart Weitzman, Coach strengthened the company's sales and expanded product categories, further enhancing its competitiveness with Michael Kors and other rivals.

In terms of product and pricing, Stuart Weitzman has more advantages than Salvatore Ferragamo.

Since twentieth Century, Stuart Weitzman has been favored by fashionable women consumers of all ages by its charming and charming modern American style and the diverse styles ranging from women's boots to professional shoes to flat shoes and waterproof warm shoes. Among them, there are many popular celebrities such as Kim Kardashian, Leighton Meester, Eva Longoria, Taylor Swift and Katie Katie.

According to the latest global luxury survey report released by Royal Bank of Canada Europe Ltd, in luxury footwear rankings, the desire of consumers to buy Salvatore Ferragamo is only 2%, which has been squeezed out of the top ten. We should know that in the past few years, Salvatore Ferragamo has always ranked among the top 5.

From the data analysis, compared to 6 consecutive quarters of revenue decline Salvatore Ferragamo, has basically completed the restructuring and reorganization of Stuart Weitzman performance is beginning to gradually recover.

According to statistics, sales in Stuart Weitzman2017 rose 8.4% to 373 million euros, while Salvatore Ferragamo fell 3.1% to 1 billion 395 million euros.

In the second quarter of December 30th last year, Stuart Weitzman sales rose 2% to $121 million, gross profit margin was 60.8%, operating profit was $24 million, accounting for 6.7% of the group's total sales. At present, the brand has 83 stores all over the world.

Tapestry group said Stuart Weitzman and Kate Spade still have great potential for development in South China and Southeast Asia.

More importantly, compared with the Salvatore Ferragamo single brand and family business mode, Tapestry group's flexible business mode can give Eraldo Poletto the maximum freedom.

Victor Luis said earlier that the group's Coach, Kate Sapde and Stuart Weizman remain independent operation, but will complement each other in the supply chain and raw materials to enhance the overall efficiency of the group.

This also means that although Stuart Weitzman still operates as an independent brand, it has all the resources of Tapestry group behind it.

According to Tapestry group, its revenue will increase by 30% to 5 billion 800 million US $5 billion 900 million this year.

Some people in the industry pointed out that Salvatore Ferragamo's decision on suspending the search for a new chief executive was released one day after the new appointment of Eraldo Poletto, revealing the anxiety of the brand to its own fate.

In addition to facing the trend of the shoe market, which is rising due to the change of the millennial consumer preferences, Salvatore Ferragamo's veteran competitors are also beginning to attract the attention of the fashion industry through various new means.

After losing the Eraldo Poletto that has doubled Furla's target sales, Salvatore Ferragamo will face greater challenges if it wants to achieve its recovery on its own strength.

Giuseppe Marsella and Luca Solca, a bank analyst in Paris, France, have said earlier that if the new management of Salvatore Ferragamo fails to make effective decisions, they will face the dilemma of being forced to sell.

After the release of the news, the stock price of Salvatore Feragamo fell by 0.89% to 23.44 euros per share, with a market value of about 3 billion 900 million euros.

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