EXCLUSIVE: Salvatore Ferragamo courted by Arab investors

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Luciano Bertinelli, CEO of Ferragamo's fragrance division and Giovanna Gentile Ferragamo, VP.

Luciano Bertinelli, CEO of Ferragamo's fragrance division and Giovanna Gentile Ferragamo, VP.

Italian fashion house Salvatore Ferragamo, which launched a US$487m initial public offering (IPO) last year, is being courted by Gulf investors eager to access the luxury European market, a senior company executive told Arabian Business.

“There are some [Arab investors]… maybe... I cannot tell you that… I know something but it is really confidential,” Luciano Bertinelli, CEO of Salvatore Ferragamo’s fragrance division and licensing director for its watches and eyewear ranges, let slip during an interview in Dubai.

Bertinelli, who was in the emirate as part the firm’s global marketing campaign for ‘Signorina’, its latest fragrance launched this month, refused to be drawn on who the potential investors were or the status of negotiations.

“You can ask [Giovanna Gentile Ferragamo] as she is the vice president of the company. I know something but it is really confidential, if she says yes she will tell you,” he said.

Giovanna Gentile Ferragamo, the second of Salvatore Ferragamo’s six children, is vice president of the fashion brand’s holding company and serves on the board of directors of several Ferragamo companies.

However, she denied any knowledge of any advances from Arab investors: “I don’t think I can answer today as I am not too familiar with everything that is happening with the finance side of our business,” she told Arabian Business in an interview.

Salvatore Ferragamo launched a successful US$487m IPO last year, which saw its shares rise about 27 percent in six months

While reporting a 26.2 percent rise in 2011 revenues to €986.5m (US$1.28bn), Italian press reported, without citing sources, that sales could reach €1.1bn (US$1.4bn) this year.

In February, Salvatore Ferragamo group CEO Michele Norsa said the outlook “in general remains positive” after a strong start to 2012, which includes sales gains in Europe.

He also said Asia and the US are leading revenue growth, while China was one of its major markets and “continues to grow strongly.”

Founded in Italy in 1928, Salvatore Ferragamo currently employs close to 3,000 staff and has a network of 550 outlets worldwide.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai's nightlife bubble: When is it going to burst?

Dubai's nightlife bubble: When is it going to burst?

A new breed of clubs and bars is sprouting in the city, but which...

Chocolate: worth its weight in gold?

Chocolate: worth its weight in gold?

Middle Eastern consumers with a sweet tooth are buying up ever...

Country focus: Lebanon’s start-up success

Country focus: Lebanon’s start-up success

A new-wave of entrepreneurship is helping Lebanon become a hot...

Most Discussed
  • 10
    UAE father who whipped son to death wins appeal

    "Under Sharia, a parent cannot be executed for killing their child"
    A spouse could be executed if he/she kills his/her spouse, as none of them is... more

    Friday, 18 April 2014 3:38 PM - Nihar
  • 3
    To diet or not to diet?

    It is best to eat by your blood type. Following this diet is miraculous. Generic diets don't always work as certain foods are not good for the individual... more

    Friday, 18 April 2014 11:49 AM - Shamira Mitha
  • 2
    Saudi conservatives stage rare protest against Westernisation

    While one certainly appreciates a country to retain its own culture and heritage, one might call the current status in Saudi something like "stoneage"... more

    Saturday, 19 April 2014 1:51 AM - Non-Muslim
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams