Covid-19 has boosted e-tail, especially for multibrand sites and leading luxury labels, according to a study by Bernstein for Altagamma. An evolution that means other labels need to rethink their commercial strategy.
British designer Paul Andrew, head of all collections at Florentine luxury brand Salvatore Ferragamo since 2019, will leave his role at the business in May. The brand’s in-house team will take over his responsibilities.
In the last year, the luxury industry’s digitalisation process has accelerated at all levels, radically transforming the labels’ relationship with the public, as shown recently by Bottega Veneta, Versace and Balmain.
The label has confirmed Micaela Le Divelec Lemmi and Michele Norsa in their roles as CEO and executive vice-president, while Ferruccio Ferragamo has relinquished the non-executive president role to his brother Leonardo.
The clothes are still snug and cosy, but fashion designers are now dreaming of outings and parties, judging from the womenswear collections for next winter presented virtually in New York, London, Milan and Paris.
Italian luxury goods group Salvatore Ferragamo said on Tuesday that China and e-commerce had lifted 2021 sales so far, after posting its first full-year operating loss since listing 10 years ago because of the pandemic.