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Dec 14, 2021
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Marco Gobbetti to take the reins at Salvatore Ferragamo in January

By
AFP
Published
Dec 14, 2021

Italian luxury house Salvatore Ferragamo announced on Tuesday that Marco Gobbetti, who previously led UK-based Burberry, will join the company as its new CEO on January 1, 2022. 


Marco Gobbetti - DR


In parallel, the Italian company revealed that its executive vice president, Michele Norsa, has resigned and plans to step down from his position at the end of December. Having led Salvatore Ferragamo from 2006 to 2016, Norsa went on to work at Missoni before returning to the Florentine luxury house in May 2020. 

In June, Ferragamo announced that it had made a deal through which Gobbetti would join the company as CEO. Gobbetti previously worked at Moschino and also spent 13 years at LVMH, where he was CEO at Givenchy and Celine, before moving to Burberry in 2017. 

Gobbetti's arrival at Ferragamo "marks the beginning of a new phase of brand enhancement and development on world markets," said the company in a release published on Tuesday. 

The Italian label achieved net income of 40 million euros in the first nine months of the year, a figure that reflected a recovery in the company's operations, driven by sales in Asia and the United States. In the same period in 2020, which was strongly negatively affected by the Covid-19 crisis, the label posted a loss of 96 million euros. 

Revenue at the company grew 34% year over year in the period January through September, totaling 785.3 million euros. The Italian group, whose origins date back to 1927, currently employs some 3,750 people. 

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