Founding
In 1914, Salvatore Ferragamo emigrated from southern Italy to the United States to join his siblings, who had already emigrated to the U.S.[6] He briefly worked at Thomas G. Plant Shoe Factory in Boston, Massachusetts, before moving to Santa Barbara, California, to join his brothers.[6] He opened the Hollywood Boot Shop in 1923 and made shoes for movie stars, such as Rudolph Valentino, Clara Bow, Joan Crawford, Mary Pickford, and Gloria Swanson, as well as for films, such as Cecil B. DeMille's 1923 film The Ten Commandments.[7][8][9]
Following his success in California, Ferragamo returned to Italy in 1927 to incorporate his eponymous label and open a factory to produce his shoes, due to a lack of artisan shoemakers in the U.S.[10] His factory in Florence combined the city's artisanal techniques with the efficient production system of American factories, which became a training ground for apprentices.[10]
As a result of the Great Depression and the company's reliance on businesses in the U.S., Ferragamo struggled financially and filed for bankruptcy in 1933.[11] By 1938, he had recovered financially and purchased Palazzo Spini Feroni in Florence, which has housed the company's headquarters, flagship store, and Salvatore Ferragamo Museum since.[7][12] In 1948, the company opened its first directly operated store in the U.S. at 424 Park Avenue in New York City.[13]
The company faced financial challenges in 2024, reporting a net loss of €68 million, a significant decline from a €26 million profit in 2023. This downturn was attributed to decreased sales in key markets, particularly in Asia. Consequently, CEO Marco Gobbetti stepped down in March 2025, with Chairman Leonardo Ferragamo assuming interim executive responsibilities. [14]
Death of Salvatore Ferragamo
Salvatore Ferragamo died in August 1960, leaving control of the growing company to his wife, Wanda Ferragamo.[15] She expanded its operations to include silk scarves, fragrances,[16] leather handbags,[17] ready-to-wear, and small leather goods.[18]
Recent developments
Despite several changes of leaderships and growth, the company remained privately held by the Ferragamo family until it went public on the Milan stock exchange in 2011.[4] As of 2022, members of the Ferragamo family remain majority shareholders with approximately 65% combined stakes in the company, which is chaired by Leonardo Ferragamo, the fifth son of Salvatore and Wanda Ferragamo.[4]
Marco Gobbetti, former CEO of Burberry, has been the CEO of the company since January 2022, succeeding Micaela le Divelec, who led the company since July 2018.[19]
Salvatore Ferragamo announced it did not own stores in Russia and shipments to the franchise operation ceased after the Russian invasion of Ukraine.[20]
In 2022, in an effort to modernize the brand, Salvatore Ferragamo was rebranded as "Ferragamo" (stylized as FERRAGAMO) and debuted a new logo ahead of its SS23 show during
