Hikari Yokoyama for Ferragamo and Wallpaper* magazine
Italy’s Salvatore Ferragamo has confirmed upcoming talks with Eraldo Poletto, who will soon vacate his CEO position at leather goods brand Furla.
On May 4, Mr. Poletto announced his departure as Furla’s CEO at the end of June after nearly 6 years with the brand. Soon after, rumors began to suggest that Ferragamo may have an interest in Mr. Poletto, as its brand is currently without a CEO since Michele Norsa announced his impending departure in April (see story).
Switcheroo
Per Women’s Wear Daily, Ferragamo has confirmed rumors May 5, saying that the brand has a board meeting scheduled for May 12, where first quarter results will be reviewed. During the meeting the transitional process to incorporate Mr. Poletto into Ferragamo will be discussed.
There are a number of similarities between the two businesses that would make the move a natural fit. For one, both Furla and Ferragamo’s labels are heavily concentrated on accessories. Both the Ferragamo family and the Furlanettos are still overseeing their family-owned companies.
Furla’s Fifth Avenue boutique in New York
During his time at the Furla, Mr. Poletto helped expand into new product categories, including men’s accessories and women’s shoes, and established an eyewear license. He also oversaw the expansion of the brand’s store network (see story).
If Mr. Poletto is hired as Ferragamo’s next CEO he is expected to begin around July 1, with Mr. Norsa waiting until the position is filled to exit.
As for Mr. Norsa, he has given a statement saying that he wishes to prioritize family and focus on new professional interests after a long stint of “intense efforts and rewarding results.” He has worked for Ferragamo since 2006 and was at the helm when the house issued its initial public offering in 2011.
from Apparel and accessories – Luxury Daily http://www.luxurydaily.com/ferragamo-confirms-interest-in-furlas-departing-ceo/
via Your #1 Source to Finding Luxury & Designer Goods, Handbags & Clothes at or Below Wholesale: Click Here.
No comments:
Post a Comment