Salvatore Ferragamo S.p.A., rebranded in September 2022 as Ferragamo, () is an Italian
luxury goods
In economics, a luxury good (or upmarket good) is a good for which demand increases more than what is proportional as income rises, so that expenditures on the good become a greater proportion of overall spending. Luxury goods are in contrast to n ...
company headquartered in
Florence
Florence ( ; it, Firenze ) is a city in Central Italy and the capital city of the Tuscany region. It is the most populated city in Tuscany, with 383,083 inhabitants in 2016, and over 1,520,000 in its metropolitan area.Bilancio demografico an ...
. It specializes in designing and manufacturing
footwear
Footwear refers to garments worn on the feet, which typically serves the purpose of protection against adversities of the environment such as wear from ground textures and temperature. Footwear in the manner of shoes therefore primarily serves th ...
and leather goods, which together account for over 86% of its revenue.
The remaining products include
ready-to-wear
Ready-to-wear (or ''prêt-à-porter''; abbreviated RTW; "off-the-rack" or "off-the-peg" in casual use) is the term for ready-made garments, sold in finished condition in standardized sizes, as distinct from made-to-measure or bespoke clothing ...
, silk products,
fashion accessories
In fashion, an accessory is an item used to contribute, in a secondary manner, to an individual's outfit. Accessories are often chosen to complete an outfit and complement the wearer's look. They have the capacity to further express an individual ...
, and licensed eyewear, watches, and perfumes.
It operates 447 mono-brand stores worldwide as of September 2022.
The company was founded in 1927 by
Salvatore Ferragamo
Salvatore Ferragamo (5 June 1898 – 7 August 1960) was an Italian shoe designer and the founder of luxury goods high-end retailer Salvatore Ferragamo S.p.A. An innovative shoe designer, Salvatore Ferragamo established a reputation in the 1930s. ...
in
Florence
Florence ( ; it, Firenze ) is a city in Central Italy and the capital city of the Tuscany region. It is the most populated city in Tuscany, with 383,083 inhabitants in 2016, and over 1,520,000 in its metropolitan area.Bilancio demografico an ...
, Italy. It went public on the
Milan stock exchange
Borsa Italiana, based in Milan, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.italy24.ils ...
in 2011, but the Ferragamo family has remained majority shareholders with approximately 65% stakes in the company.
British designer Maximilian Davis has been the creative director of Ferragamo since March 2022.
History
Founding
![Palazzo Spini Feroni 01](https://upload.wikimedia.org/wikipedia/commons/8/8d/Palazzo_Spini_Feroni_01.JPG)
In 1915,
Salvatore Ferragamo
Salvatore Ferragamo (5 June 1898 – 7 August 1960) was an Italian shoe designer and the founder of luxury goods high-end retailer Salvatore Ferragamo S.p.A. An innovative shoe designer, Salvatore Ferragamo established a reputation in the 1930s. ...
emigrated from southern Italy to the United States to join his siblings who had already emigrated to the U.S.
He briefly worked at
Thomas G. Plant Shoe Factory in
Boston, Massachusetts, before moving to
Santa Barbara, California
Santa Barbara ( es, Santa Bárbara, meaning "Saint Barbara") is a coastal city in Santa Barbara County, California, of which it is also the county seat. Situated on a south-facing section of coastline, the longest such section on the West Coas ...
, to join his brothers.
He opened the Hollywood Boot Shop in 1923 and made shoes for movie stars, such as
Joan Crawford
Joan Crawford (born Lucille Fay LeSueur; March 23, ncertain year from 1904 to 1908was an American actress. She started her career as a dancer in traveling theatrical companies before debuting on Broadway. Crawford was signed to a motion pict ...
and
Gloria Swanson
Gloria May Josephine Swanson (March 27, 1899April 4, 1983) was an American actress and producer. She first achieved fame acting in dozens of silent films in the 1920s and was nominated three times for the Academy Award for Best Actress, most f ...
, as well as for films, such as
Cecil B. DeMille
Cecil Blount DeMille (; August 12, 1881January 21, 1959) was an American film director, producer and actor. Between 1914 and 1958, he made 70 features, both silent and sound films. He is acknowledged as a founding father of the American cine ...
's feature film ''
The Ten Commandments
The Ten Commandments (Biblical Hebrew עשרת הדברים \ עֲשֶׂרֶת הַדְּבָרִים, ''aséret ha-dvarím'', lit. The Decalogue, The Ten Words, cf. Mishnaic Hebrew עשרת הדיברות \ עֲשֶׂרֶת הַדִּבְ ...
''.
Following his success in California, Ferragamo returned to Florence, Italy, in 1927 to incorporate his eponymous label and open a factory to produce his shoes, due to a lack of artisan shoemakers in the U.S.
His factory combined the city's artisanal techniques with the efficient production system of American factories, which became a training ground for apprentices.
As a result of the
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...
and the company's reliance on businesses in the U.S., Ferragamo struggled financially and filed for bankruptcy in 1933.
By 1938, he had recovered financially and purchased
Palazzo Spini Feroni
Palazzo Spini Ferroni is a large Gothic palace located along Via de' Tornabuoni at the corner of Piazza Santa Trinita, in central Florence, region of Tuscany, Italy.
It stands across from the church of Santa Trinita.
History
The palace was comm ...
in Florence, which has housed the company's headquarters, flagship store, and
Salvatore Ferragamo Museum
The Salvatore Ferragamo Museum in Florence, Italy, is a fashion museum dedicated to the life and work of Italian shoe designer Salvatore Ferragamo
Salvatore Ferragamo (5 June 1898 – 7 August 1960) was an Italian shoe designer and the founder ...
since.
In 1948, the company opened its first directly operated store in the U.S. at 424 Park Avenue in New York City.
Death of Salvatore Ferragamo
Salvatore Ferragamo died in August 1960, leaving control of the growing company to his wife,
Wanda Ferragamo
Wanda Ferragamo (née Miletti; 18 December 1921 - 18 October 2018) was an Italian fashion designer and businesswoman. She was the head designer of Ferragamo.
Motherless, she was born in Bonito, Avellino, Italy, the daughter of Fulvio Miletti, ...
.
She expanded its operations to include silk scarves, fragrances,
leather handbags,
ready-to-wear, and small leather goods.
Recent developments
Despite several changes of leaderships and growth, the company remained privately held by the Ferragamo family until it went public on the
Milan stock exchange
Borsa Italiana, based in Milan, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.italy24.ils ...
in 2011.
As of 2022, members of the Ferragamo family remain majority shareholders with approximately 65% combined stakes in the company, which is chaired by Leonardo Ferragamo, the fifth son of Salvatore and Wanda Ferragamo.
Marco Gobbetti
Marco Gobbetti is an Italian businessman, and the CEO of Salvatore Ferragamo. Before this, he succeeded Christopher Bailey in July 2017 as CEO of Burberry. Starting his career in management at luxury companies such as Bottega Veneta, Valextra, a ...
, former CEO of
Burberry
Burberry is a British luxury fashion house established in 1856 by Thomas Burberry headquartered in London, England. It currently designs and distributes ready to wear, including trench coats (for which it is most famous), leather accessories, ...
, has been the CEO of the company since January 2022, succeeding Micaela le Divelec, who led the company since July 2018.
On March 14, 2022, British designer Maximilian Davis was named new creative director in an effort to revitalize Ferragamo's ready-to-wear line.
In September 2022, in an effort to modernize the brand, Salvatore Ferragamo was rebranded as "Ferragamo" (stylized as FERRAGAMO) and debuted a new logo ahead of its SS23 show during
Milan Fashion Week
Milan Fashion Week ( it, Settimana della moda) is a clothing trade show held semi-annually in Milan, Italy. The autumn/winter event is held in February/March of each year, and the spring/summer event is held in September/October of each year. It ...
. The show was the first under the creative direction of Maximilian Davis and was met with generally favorable responses, with critics noting the modernized tailoring. Davis described the collection as being about "ease and sensuality".
Products
![Museo Ferragamo Firenze 10](https://upload.wikimedia.org/wikipedia/commons/d/d1/Museo_Ferragamo_Firenze_10.jpg)
Throughout its history, the company has been known for innovative designs and use of materials; in California, Salvatore studied human anatomy in effort to make more comfortable shoes. Notable innovations include the wedge heel; the shell-shaped sole; the ‘invisible’ sandal; metal heels and soles, made famous by
Marilyn Monroe
Marilyn Monroe (; born Norma Jeane Mortenson; 1 June 1926 4 August 1962) was an American actress. Famous for playing comedic " blonde bombshell" characters, she became one of the most popular sex symbols of the 1950s and early 1960s, as wel ...
; the 18-carat gold sandal; the sock-shoe; sculpture heels; and the gloved arch shoe, created for the
Maharani of Cooch Behar in 1938.
The company is also known for its ‘Gancini’ decoration, the ‘Vara’ patent ballet pump, the Salvatore bag, and its use of
patchwork
Patchwork or "pieced work" is a form of needlework that involves sewing together pieces of fabric into a larger design. The larger design is usually based on repeating patterns built up with different fabric shapes (which can be different colors) ...
.
Footwear and leather goods are the focus of the brand, representing over 86% of its revenue in 2021.
It also has an extensive range of women's and men's footwear, from formal, evening, to leisure wear.
Men's footwear is manufactured using several techniques, including lasted, tubular, stitched, and "Tramezza" stitched welting.
Leather goods, such as handbags, suitcases, belts, and wallets often feature the distinctive and signature "Gancino" clasp, which was originally designed as a handbag fastening.
The company also offers made-to-order products for customers seeking unique designs not found in stores.
Other products include men and women's ready-to-wear
and the brand's signature silk products, including ties, foulards, pocket square, and scarves.
Ferragamo fragrances are produced and distributed by Inter Parfums, Inc. through an exclusive licensing agreement.
The company also produces licensed eyewear and Swiss-made watches in partnership with
Marchon and
Timex Group
Timex Group B.V., or Timex Group, is an American - Dutch holding company headquartered in Hoofddorp, the Netherlands and Middlebury, Connecticut. It is the corporate parent of several global watchmaking companies including Timex Group USA, Inc., ...
. In 2014, Ferragamo began adding
NFC tags to their products in an effort to discourage counterfeits.
Clients
Salvatore worked with film stars and celebrities from his earliest days in Hollywood. Clients over the years included
Audrey Hepburn
Audrey Hepburn (born Audrey Kathleen Ruston; 4 May 1929 – 20 January 1993) was a British actress and humanitarian. Recognised as both a film and fashion icon, she was ranked by the American Film Institute as the AFI's 100 Years...100 Stars, t ...
,
Sophia Loren
Sofia Costanza Brigida Villani Scicolone (; born 20 September 1934), known professionally as Sophia Loren ( , ), is an Italian actress. She was named by the American Film Institute as one of the greatest female stars of Classical Hollywood ci ...
, and
Greta Garbo
Greta Garbo (born Greta Lovisa Gustafsson; 18 September 1905 – 15 April 1990) was a Swedish-American actress. Regarded as one of the greatest screen actresses, she was known for her melancholic, somber persona, her film portrayals of tragedy, ...
, as well as
Andy Warhol
Andy Warhol (; born Andrew Warhola Jr.; August 6, 1928 – February 22, 1987) was an American visual artist, film director, and producer who was a leading figure in the visual art movement known as pop art. His works explore the relationsh ...
,
Seulgi
Seul-ki, also spelled Seul-gi or Sul-ki, is a Korean unisex given name, predominantly feminine. It was the 8th-most popular name for baby girls born in South Korea in 1990. Unlike most Korean names, it does not have any Sino-Korean roots, but is ...
,
Grace Mugabe
Grace Ntombizodwa Mugabe (' Marufu; born 23 July 1965) is a Zimbabwean entrepreneur, politician and the widow of the late President Robert Mugabe. She served as the First Lady of Zimbabwe from 1996 until her husband's resignation in November 201 ...
,
Princess Diana
Diana, Princess of Wales (born Diana Frances Spencer; 1 July 1961 – 31 August 1997) was a member of the British royal family. She was the first wife of King Charles III (then Prince of Wales) and mother of Princes William and Harry. Her ac ...
, and
Namal Rajapaksha.
The company made handbags for
Margaret Thatcher
Margaret Hilda Thatcher, Baroness Thatcher (; 13 October 19258 April 2013) was Prime Minister of the United Kingdom from 1979 to 1990 and Leader of the Conservative Party (UK), Leader of the Conservative Party from 1975 to 1990. S ...
and boots for
Jigme Khesar Namgyal Wangchuck
Jigme Khesar Namgyel Wangchuck ( dz, འཇིགས་མེད་གེ་སར་རྣམ་རྒྱལ་དབང་ཕྱུག་, ; born 21 February 1980) is the Druk Gyalpo (Dzongkha: Dragon King) of the Kingdom of Bhutan. After his ...
during his coronation on November 6, 2008, in
Thimpu
Thimphu (; dz, ཐིམ་ཕུག ) is the capital and largest city of Bhutan. It is situated in the western central part of Bhutan, and the surrounding valley is one of Bhutan's ''dzongkhags'', the Thimphu District. The ancient capital city ...
, Bhutan.
References
External links
*
{{Portal bar, Fashion, Italy, Companies
Salvatore Ferragamo
1927 establishments in Italy
Italian suit makers
Clothing brands of Italy
Clothing companies established in 1927
Manufacturing companies based in Florence
Culture in Florence
Design companies established in 1927
High fashion brands
Jewellery companies of Italy
Jewellery retailers of Italy
Leather manufacturers
Luxury brands
Shoe companies of Italy
Watch manufacturing companies of Italy
Eyewear brands of Italy
Fashion accessory brands
Perfume houses
Italian companies established in 1927