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Salvatore Ferragamo CEO Marco Gobbetti Aiming to Double Company Revenues

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Gobbetti laid out an ambitious plan that sees Ferragamo aiming to double revenues in four to five years and to double marketing and communication spending as a percentage of revenues beginning in 2023.

“He is very bright, and, while young, more mature than his age,” said Gobbetti of Davis. “He has the remarkable capacity to define a very specific style and visual identity in a very short time, as he has done for his own brand [which has been put on hold]. He is very elegant, starting from tailoring, but at the same time his designs are grounded and for daily use and more casual, more fashion. He has, on his own and with very little means, stirred interest in celebrities.

Davis has the tools to communicate with a younger consumer, “create an emotional connection, which has been lacking. We may have been a little distant in the past. Emotions are very important and Maximilian plays an important role in this.” In the first quarter ended March 31, revenues rose 23.2 percent to 289 million euros, compared with 235 million euros in the same period last year.

In the first quarter, retail sales grew 15.8 percent to 193.1 million euros representing 66.7 percent of the total.The company will launch a new concept store, and prioritize direct-to-consumer, but Gobbetti said “there will be no major clean-up of wholesale.”

 

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