Ferragni and the fall of an empire. Fenice Retail, the company that managed the influencer’s shops and was liquidated in May, recorded a loss of approximately EUR 1.21 million over the 2023–2024 period. This is according to documents reviewed by the Radiocor news agency. As the name suggests, the company operated in the retail sector linked to the brand of the digital entrepreneur. The decision to dissolve it coincided with the closure of the store on Via del Babuino in Rome, announced by Ferragni at the end of May, following the earlier closure of the Milan shop. Both locations had suffered from the influencer’s drop in popularity following the Balocco pandoro charity scandal.
Ferragni and the fall of an empire
Retail had been at the centre of a dispute at the most recent shareholder meeting regarding Fenice’s accounts — Fenice being the main holding company — between sole director Claudio Calabi and representatives of minority shareholder Pasquale Morgese. Retail, wholly owned by Fenice, became a point of contention in April 2025, particularly in light of a capital increase fully subscribed by Ferragni, which resulted in the ownership structure of the parent company being 99.8% held by Ferragni and 0.2% by Morgese. Now, the financial results highlight the extent of the crisis, further emphasised by the announcement of the store closures. As Il Post recalls, the Milan store was the first to open in 2017, while the Rome location launched in 2023 — the same year as the Balocco scandal.
The reasons
Between 2023 and 2024, the company recorded losses of EUR 684,000 in 2024 and EUR 530,000 in 2023, against revenues of EUR 644,000 but with costs approaching EUR 2 million. Following the closure of the two flagship stores, which sold clothing and accessories inspired by the influencer’s iconic blue eye symbol, the company spoke of “a revision of sales strategies both online and offline” — with an evident shift in focus towards the latter.
Meanwhile, Ferragni continues to face a popularity crisis following the charity controversy. After regaining full majority control of her brand, the influencer had responded with optimism. “This decision is a concrete step. And it’s the choice to take back control of my story: no more delegating, no more pretending everything is fine when it’s not”, she wrote on Instagram. “It’s about embracing the weight and the beauty of leading, deciding, changing. It’s about being free, for the first time, to carry forward my brand and my name”.
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