Ferragamo partners with Farfetch to grow online and reach young shoppers

Ferragamo partners with Farfetch to grow online and reach young shoppers

A pair of shoes by Italian luxury shoemaker Salvatore Ferragamo are displayed in the window of the company’s store in Zurich, Switzerland April 25, 2019. REUTERS/Arnd Wiegmann/

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MILAN, Aug 11 (Reuters) – Italian fashion house Salvatore Ferragamo (SFER.MI) said on Thursday it has partnered with luxury online retailer Farfetch (FTCH.N) to expand its digital presence, targeting young shoppers .

Ferragamo said it will use Farfetch’s platform for its e-commerce and seek to engage with a global luxury millennial and Gen Z audience.

“Ferragamo has a wonderful legacy of creativity and craftsmanship and I am extremely excited to bring it to a unique new audience globally,” said José Neves, CEO of Farfetch.

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“Ferragamo’s exceptional product and creativity, combined with our marketing capabilities and innovative digital experiences, will captivate this audience.”

Ferragamo, whose shoes have been worn by Hollywood legends such as Audrey Hepburn, has struggled in recent years to rejuvenate its image and appeal to young luxury buyers.

In its latest bid for a turnaround, Ferragamo hired former Burberry (BRBY.L) chief executive Marco Gobbetti in January.

Gobbetti has pledged to double Ferragamo’s sales to nearly 2.3 billion euros ($2.4 billion) in 2026 from a year ago by investing more in marketing and communications, renovating stores and improving the group’s technology and supply chain. Read more

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Reporting by Valentina Za; Editing by Federico Maccioni and Clarence Fernandez

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