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Salvatore Ferragamo

 

Salvatore Ferragamo

Company: Salvatore Ferragamo SpA

Brand value: US$1,689 million

Headquarter city: Florence

Category: Luxury

Year formed: 1928

 

Salvatore Ferragamo has established a reputation as a maker of high-end shoes that makes creative use of design and materials. The founder and namesake of the brand emigrated from southern Italy to Boston and then moved to California in 1914. He opened the Hollywood Boot Shop in 1923, and made shoes for movie stars including Joan Crawford and Gloria Swanson, as well as for films such as Cecil B. DeMille's The Ten Commandments. He returned to Italy and set up a shoe shop in 1927 in Florence, where the business is still based. The business regards 1928, so the brand will officially turn 90 in 2018 . After Salvatore's death in 1960, his widow, Wanda, took over the running of the business and expanded its operations to include eyewear, perfume, belts, scarves, bags, watches, and a ready-to-wear clothing line. The brand is now present in over 90 countries via a network of over 680 single-brand stores managed directly; goods are also available through third-party stores, with wholesale sales accounting for just over one-third of revenue. The brand is strongly associated with the color red, and with its iconic “Gancino” clasp, which is used on clothing, accessories and jewelry. It is also known for its 1930s “Rainbow” shoe, combining cork, colored suede and gold leather, an early example of Ferragamo’s combination of architectural shapes, strong colors & craftsmanship. The recent “Ferragamo and I” campaign highlights creativity and elegance, and consumers’ emotional connections with Ferragamo products. The company has been listed on the Milan Stock Exchange since 2011, and the family owns just over half of Ferragamo shares.