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.
The Italian luxury house announced on Thursday that it has promoted British designer Paul Andrew to the role of creative director. Andrew joined the company in 2016 and will now oversee both men's and women's design.
Salvatore Ferragamo has named former Kering executive Micaela le Divelec Lemmi as its new CEO although it’s less of a change than it might have been given that she has been general manager of the firm since the spring.
Ferragamo’s head of marketing and communications, Antonio Burrello, is leaving the group, two sources with knowledge of the matter said, signalling further management changes at the Florentine shoemaker.
Luxury group Salvatore Ferragamo said on Monday it expected 2018 results to be undermined by currency swings and an unfavourable mix of its sales channels, after posting first quarter results in line with expectations.