Latest news with #LeonardoFerragamo
Forbes
24-06-2025
- Automotive
- Forbes
Swan One Design Worlds At The Yacht Club Costa Smeralda Sets High Standards For Serious And Sophisticated Sailing Competition
ClubSwan 50's enjoy tight racing in the Swan One Design Worlds in Porto Cervo Full disclosure. Nautor Swan yachts have had a special place in my heart since 1993. Back then, I was 20-year-old dreamer who set off from Newport, Rhode Island to see the world aboard a Swan 651. And being a deckhand on a 65-foot-long Swan that already had a legendary reputation for quality, performance, safety, and a distinctively elegant style was in fact a dream come true. But that was a few years before Leonardo Ferragamo bought the well-respected Nautor Swan shipyard based in Finland. Yes, that Leonardo Ferragamo (who started in his family's Florence-based Ferragamo fashion brand when he was 20-years-old and went on to become the Chairman of the company) is also a passionate sailor. The Swan One Design Worlds at the YCCS in Porto Cervo features spectacular racing in a spectacular ... More setting And as I found out during the Swan One Design World Championships at the Yacht Club Costa Smeralda in Porto Cervo this weekend (he competes in the ClubSwan 50 class), he's as passionate about sailing now as he was then. 'I was in love with Swan for ten years before I bought the company,' he said before the final day of racing. 'In addition to the sheer joy of sailing and racing, one of the things that made me so passionate about Swan was the similarities I saw with my company. And though the businesses are different, I love how each must have a similar approach to make sure that everything is credible, reliable, and always the best that money can buy. Nautor Swan President Leonardo Ferragamo (at the wheel) competes in the ClubSwan 50 World ... More Championship at the YCCS in Porto Cervo 'When I took the company over the Swan Cup was already well established. But I wanted to bring Swan racing to a whole other level.' And to do that, Nautor Swan had to do more than just build sexy new high-performance raceboats and provide state-of-the-art service. To really provide the best experience for Swan owners like himself, Ferragamo believed the company had to organize world-class racing and events all over the world for Swan owners to enjoy as well. 'Our goal is not only to push the boundaries of performance but also to cultivate a community where the spirit of competition is balanced with friendship and mutual respect," says Giovanni Pomati CEO of Nautor Swan. "The 2025 racing calendar is a celebration of the unity that sailing brings, and we eagerly look forward to seeing these values shine through in every race.' And anyone who participated in the recent Nations League Swan One Design World Championships at the Yacht Club Costa Smeralda in Porto Cervo will attest, they have. In fact, not only were all of the 35 boats that raced four classes (12 ClubSwan 50s, 7 ClubSwan 42s, 9 ClubSwan 36s and 7 in the new ClubSwan 28), treated to world class racing in one of the most desirable venues in the Mediterranean. Crews and families enjoyed welcome cocktails in the YCCS's cocktail bar on the first night of the event, and the Swan One Design World's Owners Dinner on the YCCS's pool terrace before the final day of racing. The Yacht Club Costa Smeralda in Porto Cervo is where the Swan One Design Worlds 2025 took place 'The relationship between Nautor Swan and the YCCS is a special one,' said YCCS Commodore Andrea Recordati. 'We celebrated 40 years of mutual and fruitful cooperation at last year's Rolex Swan Cup. Our race course once again offered varied conditions on each of the four days, from light breeze to Mistral wind, making for a well-balanced and engaging event.' Hendrik Brandis and his crew celebrate winning the 2025 ClubSwan 50 World Championship at the YCCS ... More in Porto Cervo Meanwhile, out on the race course, Earlybird from Germany clinched the title of ClubSwan 50 World Champion with one race to spare. A beaming owner Hendrik Brandis, back on the dock and surrounded by his team, declared: 'We are unbelievably happy that we've finally become the world champions of the ClubSwan 50. We have been trying to achieve this for many years, since the inception of the class. I think we came in three times as vice champions, but we never made it. And this year everything worked well together, a fantastic team, perfect conditions, and we made it – we're very very happy and ready to celebrate!' Brazilian Hakon Lorentzen's Mamao took home the title of ClubSwan 36 class champion for the third time. 'I can't believe that we have managed to win the ClubSwan 36 title three times,' he said. 'I started sailing on an Optimist at 10 years old and I would never have believed we would have come this far. Winning anywhere is great. But winning in Porto Cervo it's even more great.' Mamao wins the ClubSwan 36 class at the 2025 Swan One Design Worlds The ClubSwan 42 class was won by the Spanish boat Pez de Abril, owned by class veteran José Maria Meseguer. 'I've been in Porto Cervo so many times and not had great luck,' he said. 'This time we won the Cup so we're very happy with that. Racing in a one design class is fantastic, with all the boats being the same, being so competitive, being so tight in windward and downwind racing, it's a magnificent experience. I wouldn't change that for anything else in the world.' ClubSwan 28 Swing owned by Japan's Keisuke Suzuki won the ClubSwan 28 class The brand new ClubSwan 28 Swing owned by Japan's Keisuke Suzuki aided by the tactical skills of multiple world champion and Olympic 470 gold medalist Will Ryan will be the first name engraved on the Gold Cup for this class. The cool thing is this was only one of several stops on ClubSwan racing calendar that culminates in St. Tropez at The Nations League 2025 regatta in October where all ClubSwan one design and rating classes will compete for the Nations Cup. Tight racing and beautiful surroundings at the Swan One Design Worlds at the YCCS in Porto Cervo As you might have guessed that special place I have in my heart for Nautor Swan has grown. A lot. And I'm going to come right out and say it. Lenardo Ferragamo's vison to propel Nautor Swan to the next level with The ClubSwan racing program (in addition to consistently launching innovative new designs, a comprehensive support network, and even charter and brokerage divisions) sets an impressively high bar for anyone who is passionate about sailing. And now that Nautor Swan has recently merged with San Lorenzo Yachts I'm pretty sure the bar is going to be raised even higher. The Swan 128 undersail. Oh, by the way, the Swan One Design World Championships at the Yacht Club Costa Smeralda in Porto Cervo wasn't the only newsworthy Nautor Swan event taking place this month. The Sparkman & Stephens Swan Rendezvous took place the same weekend on the island of Elba. And the newest Swan superyacht—the Swan 128—is being introduced to the press at the shipyard in Finland as we speak. Watch this space.
Miami Herald
18-05-2025
- Business
- Miami Herald
Luxury giant Ferragamo stumbles with no CEO and crashing sales
Something's off when a luxury house known for precision and polish begins slipping - fast. Even worse? There's no one permanently in the driver's seat. That's exactly where one iconic fashion brand finds itself. Related: Luxury fashion group reeling after disastrous quarter After a rocky Q1, it's dealing with shrinking demand, steep regional losses, and a C-suite that's still missing its top boss. Don't miss the move: Subscribe to TheStreet's free daily newsletter Another red flag? Its most important region appears to have taken a detour. With traffic down and transitional leadership in place, it's unclear who's making the calls or when the brand will course-correct. According to the company's latest press release, Salvatore Ferragamo (SFRGF) pulled in €221 million (~$245 million) in Q1 2025, down 2.6% from last year. The company blamed "a difficult macroeconomic environment" for keeping shoppers out of stores. Asia Pacific, which accounts for nearly a third of Ferragamo's global business, dropped 13% - the biggest regional hit by far. Then there's footwear, Ferragamo's most iconic category, which slid 9.6%. That's no small hit, considering footwear makes up a hefty 46.4% of the brand's total revenue. Related: Viral beauty brand suffers massive sales drop amid big shakeup That kind of dip isn't just a blip. It's a signal that the brand's product refresh isn't landing, especially with the younger, fashion-forward customers Ferragamo has been trying to win over. All of this is playing out without a permanent CEO. Marco Gobbetti stepped down in March, and Chairman Leonardo Ferragamo is currently assuming executive powers for company governance, backed by a transition committee. Ferragamo says it's revamping its product lines, leaning harder into digital marketing and trying to reengage customers through new pricing and store experiences. But turning the ship around without a captain is a tall order, especially in a luxury market that's become more competitive (and more crowded) by the day. The brand is betting big on leather goods to carry it forward. But execution matters - and right now, execution is in limbo. Until Ferragamo names a new CEO and proves it can stabilize sales, the uncertainty around its future isn't going anywhere. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
16-05-2025
- Business
- Yahoo
Ferragamo revenue slips as Asia Pacific sales decline 13%
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Salvatore Ferragamo SpA reported a Q1 2025 revenue decline of 2.6% of 221 million euros, or about $247 million, for the period ended March 31, according to a Wednesday earnings release. The company's biggest pain point for the quarter was a 13% sales decline in the Asia Pacific, excluding Japan, which represents 29.3% of its regional business. The company attributed the downturn to 'overall weak consumer environment significantly impacting traffic.' Meanwhile, overall net sales in Ferragamo's DTC channel slipped 3.6% to 164 million euros, while wholesale channel sales rose 7.9% to 54 million euros for the period. Ferragamo has been without a CEO since March, when Marco Gobbetti left by mutual agreement and ended his relationship with the company. Chairman Leonardo Ferragamo has been given executive powers in the interim, and is currently supported by a transition chairman advisory committee while the company searches for new leadership. Financially, Ferragamo's first quarter looks significantly different this year than it did a year ago, when the company posted an 18.3% revenue slide, led by a 38.3% wholesale channel decline and further hurt by an 11.1% DTC sales dip. This year, the company said it's looking to focus its product strategy as well as add 'different price points and functions in all categories.' Ferragamo said in the release that its main priority for the beginning of 2025 was its leather core business. The company plans to further consolidate its handbag category and strengthen the presence of its Hug bag, first introduced in 2023. In addition, the company said it was working to optimize its women's footwear division. Ferragamo's footwear division suffered the biggest loss for the quarter, falling 9.6% to about 92 thousand euros. That decline was directly offset by a 9.6% increase to more than 96 thousand euros in the leather goods division. Apparel dropped 3% to about 13 thousand euros, while the company's silk and other goods division was down 1.9% to about 16 thousand euros. Separate from its losses in the Asia Pacific region, Ferragamo posted a 4.1% sales increase in Japan, which represents 9.1% of its business. The company said the uptick was mainly driven by tourists' purchases. Sales in Europe, the Middle East and Africa rose 9.1% in Q1. The region represents about 25% of Ferragamo's total net sales and saw upticks at both its DTC and wholesale channels due to increased U.S. tourist spending and more local purchases. North America, which accounts for just under 29% of the company's business, posted DTC and wholesale gains that led to an overall sales increase of 3.7% for the region. Elsewhere, the company's sales in Central and South America dropped 0.8%, and that region represents 7.6% of Ferragamo's business. 'The difficult macroeconomic environment, weighing on consumers' confidence, impacted the first quarter's performance, driving a decrease in traffic, only partly offset by higher conversion rate and increase in the average ticket,' the company said in its release, adding that it was mindful 'of the increasingly uncertain scenario.' Recommended Reading Apparel, luxury spending fell in the beginning of 2025: report Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
18-02-2025
- Business
- South China Morning Post
Leonardo Ferragamo on maintaining brand values and independence
Leonardo Ferragamo, chairman of Ferragamo, started working for the family company at the age of 20. Photo: handout Ferragamo chairman Leonardo Ferragamo has a busy few months ahead. A second-generation descendant of the family behind the Florence-based leather goods label, Leonardo started working at the company at the young age of 20 and has been instrumental in expanding Ferragamo's presence globally, including in Hong Kong and China. He is now tasked with the challenge of appointing a new CEO for the storied Italian house, one of the few independent luxury brands left in a landscape dominated by conglomerates such as LVMH and Kering. Ferragamo's spring/summer 2025 campaign starring Liu Wen. Photo: Handout Earlier this year, Ferragamo, which is listed on the Italian Stock Exchange, reported that sales were down four per cent in the fourth quarter of 2024, with a 25 per cent drop in the Asia-Pacific region. Not long afterward, the company announced that it had parted ways with CEO Marco Gobetti, who'd joined in 2022. Like most luxury brands, Ferragamo has not been immune to the headwinds of the Chinese economy. A drop in spending in mainland China has created uncertainty in a part of the world that had, until recently, experienced extreme growth. On a recent visit to Hong Kong, during a whirlwind trip that also took him to Shanghai and Taipei, Leonardo sat down for a chat with Style. What are the pros and cons of being an independent brand? A look from the Ferragamo spring/summer 2025 collection. Photo: Handout Many of the most prestigious brands in the world are independent, and I say that with great appreciation. Chanel , Armani, Zegna, Ralph Lauren, Prada – they're all examples of success stories that have stayed independent. One of the advantages is that the family that controls the company can maintain a coherence behind the brand, and that's very important. You can still be coherent when you're part of a big group, but this element of consistency is a key [advantage] of independent brands. You can make choices outside the box and be more original as an independent brand , and you have more advantages long-term. In a case like Ferragamo, we have founding values and principles that make the difference. There are also disadvantages. It's a challenge to stay independent and stay competitive, especially when it comes to sourcing and the retail network, but we are very determined and do it.
