Ferragamo: Marco Gobbetti’s departure, what does the future hold?

The prestigious Italian fashion house Ferragamo is preparing to turn over a new leaf with the imminent departure of Marco Gobbetti, its CEO since 2022. The latter will officially leave his post on March 6, 2024, according to a group press release, which refers to a “mutual agreement” between the two parties.

A former Burberry executive, Marco Gobbetti was recruited to breathe new life into the brand, while making strategic organizational changes. According to Leonardo Ferragamo, Chairman of the Group and son of the founder, he played a key role in thebrand’s evolution, despite a difficult economic context.

The announcement of this departure comes just a few days after the publication of Ferragamo‘s forecast results for 2024, which anticipate an 8.2% drop in sales to 1.04 billion euros. In particular, the company has been weakened by an uncertain economic climate and increased competition in the luxury goods sector.

The Group has already launched a search for a new CEO, whose mission will be to continue modernizing the brand and strengthen its positioning in the luxury market. During this transition period, attention will also be focused on the artistic direction led by Maximilian Davis, in post since March 2022.

Ferragamo ‘s future remains uncertain, but a new dynamic could emerge with the arrival of a successor to Marco Gobbetti. It remains to be seen whether the Italian house will be able to turn things around and return to solid growth in the months ahead.

Also read: Jaguar Land Rover focuses on personalization and ecology