The Trade War worries Ferragamo. Acquisitions? “Our priority is different”

Well, if the United States and China challenge each other in a Commercial War that holds the world economy hostage, a luxury brand, even if not directly interested, cannot even feel sheltered from the rain. “It is an element of concern regardless of the brand’s position. As Ferragamo, we are lucky not to be involved in the war of duties between the two countries, since we produce in Italy. There is, however, an influence regarding the mobility of individuals: the Chinese policy of repatriation of purchases has touched everyone, including us”. This is what Micaela le Divelec, CEO of Salvatore Ferragamo, thinks; she, in fact, draws a managerial teaching from the trade war: “The world of luxury must regain contact with local customers – she told L’Economia, insert of Corriere della Sera – and not be excessively dependent on flows that can change”.

Acquisitions: yes or no

After a long sequence of rumours on the hypothesis of sale, for once the situation is reversed: is Ferragamo interested in finalising acquisitions? “This question should be asked to shareholders – explains the CEO -. What I can say is that I walked a large part of my working  journey in a group that made acquisitions and saw that they represent a time of great disruption, and in which the most trusted people are sent to manage acquired companies”. A very expensive operation, therefore, that requires great commitment of financial and social capital: “Here everyone is concentrated on the Salvatore Ferragamo brand – concludes Divelec -. It is everyone’s priority”.

Already done and to be done

About her first year as CEO of Ferragamo, the manager explains that the first line of work was to correct “some differences that had emerged from the initial analyses. For example, we had a creative director for the woman, while man’s collection was developed by designers of the individual categories”. The brand, on the other hand, finds strength in its tradition: “In this company there is pride and a strong sense of belonging. We are Ferragamo, we want to be ourselves, without going behind trends to follow the wave of the moment, but this doesn’t mean not looking for new customers and bringing innovation”.


Choose one of our subscription plans

Do you want to receive our newsletter?
Subscribe now