Detail Is In Every thing
In a uncommon occurrence final week, the 5 surviving children of Salvatore Ferragamo, primarily based in varied elements of the world, were in Hong Kong for the official reopening of the Canton Street flagship store of the brand founded by their father.
Ferruccio Ferragamo, 72, the chairman of the household business, says the gathering of his siblings and some of their kids speaks volumes concerning the importance of Hong Kong as a marketplace for the brand, and the reopening comes at a vital time within the company’s history. “It very hardly ever occurs that we are all in the same place,” says Ferragamo. “It’s a selected second for the corporate, we’re doing a reorganisation, now we have a new CEO, a new idea and a brand new group.”
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One in every of the massive names in Italian trend, Salvatore Ferragamo has been undergoing a structural makeover in recent years, with ex-Furla chief Eraldo Poletto turning into CEO in August final year and a shake-up in its design staff. Inventive director duties went to British designer Paul Andrew, after a brief experiment with three designers. Ferruccio says the company is more decentralised, and basic items like meetings happen virtually to allow executives to remain of their markets.
Salvatore Ferragamo was one of the earliest luxurious brands to enter China, opening a store in Shanghai in 1993, at a time Ferruccio says town was all “bicycles and people sporting blue and gray clothes”. China and Hong Kong stay incredibly necessary to the brand therefore the huge funding in its retail operation in the region. The refurbishment of the two-storey, 7,320 sq ft, Canton Highway boutique in addition to a brand new shop in the IFC Mall are indicators of a brand new retail direction at Salvatore Ferragamo; the brand new boutique concept will probably be rolled out around the globe.
“Detail is in all the pieces,” says James Ferragamo, 46, Ferruccio’s son and director of leather-based products at the company, of the Canton Street retailer. James, a 20-yr veteran of the corporate, points to features such as the LED panels and big interactive video screens as proof that the brand is embracing the long run.
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“If you don’t change with the market, or stay forward of the market, then you fall behind,” says James. His father adds that he’s bullish concerning the company’s prospects.