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Element Is In All the things
In a rare occurrence final week, the 5 surviving kids of Salvatore Ferragamo, based mostly in varied components of the world, were in Hong Kong for the official reopening of the Canton Street flagship retailer museo salvatore ferragamo florence of the model based by their father.
Ferruccio Ferragamo, 72, the chairman of the household business, says the gathering of his siblings and a few of their children speaks volumes concerning the significance of Hong Kong as a market for the model, and the reopening comes at a vital time within the company’s historical past. “It very hardly ever occurs that we’re all in the identical place,” says Ferragamo. “It’s a specific moment for the corporate, we’re doing a reorganisation, we have now a brand new CEO, a new idea and a brand new group.”
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Certainly one of the big names in Italian vogue, Salvatore Ferragamo has been undergoing a structural makeover lately, with ex-Furla chief Eraldo Poletto changing into CEO in August final yr and a shake-up in its design team. Creative director duties went to British designer Paul Andrew, after a short experiment with three designers. Ferruccio says the company is more decentralised, and basic items like conferences occur virtually to allow executives to stay of their markets.
Salvatore Ferragamo was one of the earliest luxury brands to enter China, opening a retailer in Shanghai in 1993, at a time Ferruccio says town was all “bicycles and other people sporting blue and gray clothes”. China and Hong Kong stay extremely important to the model hence the large funding in its retail operation within the area. The refurbishment of the two-storey, 7,320 sq ft, Canton Road boutique in addition to a new shop in the IFC Mall are indicators of a new retail path at Salvatore Ferragamo; the new boutique concept will likely be rolled out all over the world.
“Detail is in every thing,” says James Ferragamo, 46, Ferruccio’s son and director of leather merchandise at the company, of the Canton Road store. James, a 20-year veteran of the company, factors to features such as the LED panels and huge interactive video screens as proof that the brand is embracing the longer term.
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“If you don’t change with the market, or keep ahead of the market, then you definitely fall behind,” says James. His father adds that he’s bullish about the company’s prospects.