MILAN — Salvatore Ferragamo on Tuesday confirmed the appointment of Marco Gobbetti as chief executive officer and general manager of the luxury company.
He will remain in office for the term of the current board of directors ending Dec. 31, 2026. At the moment, the executive holds 134,766 shares in the company, which is listed on the Milan Stock Exchange. At the end of trading on Tuesday, Ferragamo shares were up 2.55 percent at 9.26 euros.
Leonardo Ferragamo was confirmed as chairman and Angelica Visconti, daughter of the late Fulvia Ferragamo, vice-chairman. Pierre La Tour, who joined the Florence-based luxury company on March 18, succeeding Alessandro Corsi, was confirmed group chief financial officer.
Gobbetti joined Ferragamo from Burberry in January 2022, succeeding Micaela Le Divelec Lemmi. He had been Burberry’s CEO from July 2017. Early in his career Gobbetti served as CEO of Moschino, and later spent 13 years at LVMH Moët Hennessy Louis Vuitton, where he was CEO of Givenchy, working with Riccardo Tisci. He later decamped to Celine, where he worked with Phoebe Philo.
As reported, in 2023, Ferragamo revenues were down 7.6 percent to 1.15 billion euros, compared with 1.25 billion euros at the end of December 2022. At constant exchange rates, sales decreased 8.1 percent.
In the 12 months ended Dec. 31, net profit more than halved, falling almost 60 percent to 26 million euros compared with 65 million euros in 2022.
Despite last year’s declines, Gobbetti, commenting on the results, said that the company has made “good progress” and that in 2024 it would “continue to fuel” its growth ambition and “work on the full deployment of the offer, enhancing storytelling, accelerating the rollout of the new store concept, while maximizing the potential of all digital touch points and focusing on the quality of sales.”
Gobbetti named Maximilian Davis the brand’s creative director in March 2022.
During Milan Fashion Week in Feburary, Ferragamo unveiled a new store concept at the women’s boutique in Via Montenapoleone, extensively refurbished, according to a blueprint by architect Vincent Van Duysen.
Ferragamo’s first-quarter revenues will be released May 9.