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Salvatore Ferragamo chief executive to step down

Luxury footwear brand Salvatore Ferragamo has announced that it has agreed with Eraldo Poletto that he will step down as director and chief executive of the… View Article

FASHION

Salvatore Ferragamo chief executive to step down

Luxury footwear brand Salvatore Ferragamo has announced that it has agreed with Eraldo Poletto that he will step down as director and chief executive of the company when its board of directors approves its 2017 financial statement on 8 March.

In a statement, the company said Poletto had helped to begin a new chapter in its history which was characterised by a “great dynamism, an important digital breakthrough and a special attention to the brand and to the product, also manifested during the recent Milan fashion shows.”

In January Salvatore Ferragamo reported that consolidated revenues fell by 3.1% to €1.39 billion at current exchange rates and by 1.4% at constant exchange rates in 2017 compared to the previous year.

As of 31 December 2017, the company’s retail network consisted of 685 points of sale, including 410 directly operated stores.

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