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. 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, silk products, fashion accessories, 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 in Florence, 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

In 1915, Salvatore Ferragamo 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, to join his brothers. He opened the Hollywood Boot Shop in 1923 and made shoes for movie stars, such as Joan Crawford and Gloria Swanson, as well as for films, such as Cecil B. DeMille's feature film '' The Ten Commandments''. 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 in Florence, which has housed the company's headquarters, flagship store, and Salvatore Ferragamo Museum 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. 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

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, former CEO of Burberry, 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. 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

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; 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. 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 March On, stylized as ''March ON'', is an American nonprofit organization of women-led and grassroots political activist groups that grew out of the women’s marches of January 21, 2017. About March On organizes women across the country to cr ...

and Timex Group. 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, as well as Andy Warhol, Seulgi, Grace Mugabe, Princess Diana, and Namal Rajapaksha. The company made handbags for Margaret Thatcher and boots for Jigme Khesar Namgyal Wangchuck during his coronation on November 6, 2008, in Thimpu, 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