Salvatore Ferragamo SpA chairman Ferrucio Ferragamo (son of company founder and shoe designer Salvatore Ferragamo) has once again denied any talks of a sale. “I’m in love with this company and it’s not for sale,” Ferragamo said at the brand’s fall 2019 runway show in Milan last week. All of the constant rumors and speculation come amidst struggling times for Ferragamo, where preliminary revenue results for 2018 showed a 3.4% drop in sales (sales dipped 3.1% in 2017). Ferragamo is still in the midst of restructuring its business, after new CEO Micaela Le Divelec Lemmi was brought in last summer turn around the brand. Despite the drop in sales of footwear and ready-to-wear, handbag sales increased, signaling more potential in that category.

Source: Forbes February 25, 2019 21:32 UTC