Salvatore Ferragamo’s CEO Is Leaving the Brand

Another day, another fashion executive leaving their post.  

Marco Gobbetti, the CEO of Italian luxury house Salvatore Ferragamo, has announced his departure from the brand after three years, Bloomberg reported on Monday. Gobbetti, who has held the role since January 2022 after leaving his post at Burberry Group, is stepping down by mutual agreement on March 6, 2025. According to the outlet, his exit comes two roughly years before his contract would’ve expired. 

“I would like to thank Marco Gobbetti, who in recent years has set up and developed a significant brand renewal and evolution activity, as well as significant product innovation and brand positioning, while also carrying out important work on the organizational evolution of the company and the group, which is the basis for continuing the renewal strategy,” company chairman Leonardo Ferragamo said in a press statement. “The company is determined to pursue the founding principles that have inspired my family over so many years, and in fact the path will be continued with the aim to be inspired by the deeply distinctive values that have marked our history.” 

Ferragamo, like many other high-end labels, has been struggling with its financial performance, in large part due to the global luxury slowdown that has taken place. As a result of the pandemic, consumers have tightened their purse strings when it comes to spending on luxury goods, cutting back on everything from clothes to jewelry to even skin care. When Gobbetti initially took the reins from his successor, Micaela Le Divelec Lemmi, he reportedly set forward a plan to double the brand’s sales by 2027. However, Ferragamo’s sales declined 8.2 percent in 2024.

“This piece of news came in as a surprise,” Mediobanca analyst Chiara Rotelli said in a report, per Bloomberg. “We infer that this decision results from difficulties faced in turning around the business and poor company track record so far.” 

More recently, luxury conglomerates LVMH and Kering have seen their sales slide as well. The rival groups—spearheaded by Bernard Arnault and François Pinault, respectively—have both been victims of decreased luxury spending in addition to leadership changes. For example, Kering brought in two new CEOs to lead its maisons, Yves Saint Laurent and Balenciaga. On the other hand, Arnault’s son, Alexandre, officially took over as deputy CEO of LVMH’s Moët Hennessy as of February 1.  

Credit: robbreport.com