Lifestyle And Fashion
Italian Fashion group Salvatore Ferragamo said it had struck a collaboration with online luxury shopping retailer Farfetch to expand its digital presence, targeting younger shoppers.
Ferragamo said it would use Farfetch’s platform for its e-commerce and look to engage with a global Millennial and Gen Z luxury audience.
Farfetch’s CEO, Jose Neves, said Ferragamo had a wonderful heritage of creativity and craftsmanship, and he was hugely excited about the opportunity to take it to a unique new audience worldwide.
According to CEO Neves, Ferragamo’s outstanding creativity and product, coupled with Farfetch’s marketing capabilities and innovative digital experiences, will captivate younger audiences.
In recent years, Ferragamo, whose iconic footwear has been worn by Hollywood legends such as Audrey Hepburn, has struggled to rejuvenate its appeal and image to younger luxury shoppers.
In its latest attempt to turn around, Salvatore Ferragamo hired former Burberry Chief Executive Officer Marco Gobbetti in January 2022.
Gobbetti has pledged to double Salvatore Ferragamo’s sales to almost 2.3 billion euros ($2.4 billion) in 2026 from 2021 by investing more resources in communication and marketing, renovating stores, and improving technology and the fashion house’s supply chain.