As the Ferragamo family steps down from its executive roles, the Florentine label has appointed Michele Norsa, who led the company from 2006 to 2016, as executive deputy chairman, alongside CEO Micaela le Divelec Lemmi.
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.
Like many brands, some luxury labels are producing online content to dispel the gloom in these times of isolation, for example Bottega Veneta with a multi-media project, and Salvatore Ferragamo with a trivia quiz.
The Italian fashion industry association's president asked landlords to accept a rent payment suspension until stores will reopen, urging them to renegotiate lease terms until income flows will become regular again.