Salvatore Ferragamo CEO Marco Gobbetti, former Burberry chief, will step down on March 6 after three years, failing to revive sales at the luxury brand. Chairman Leonardo Ferragamo will assume executive duties until a successor is found.
Gobbetti, who joined in 2022, aimed to modernize Ferragamo but faced challenges amid slowing global luxury demand, particularly in Asia. The brand reported an 8.2 per cent revenue drop in 2024, with Asian sales plunging 19 per cent.
Gobbetti will receive a €4.5 million exit package after waiving his 2024 bonus. Ferragamo’s advisory committee, including former CEO Michele Norsa, will assist in leadership transition.
The family, which owns 54.3 per cent of the company, has repeatedly dismissed sale rumors despite years of struggles. Ferragamo’s stock has fallen two-thirds since Gobbetti took over.
