Burberry CEO is Ferragamo newly appointed CEO

Before the opening of the stock market, news broke of an important change at the top of Burberry. Marco Gobbetti, CEO of the brand, has in fact announced that he will leave the brand at the end of the year, to undertake a similar path at Salvatore Ferragamo, where he was appointed general manager and CEO. 

Gobbetti had previously been CEO of Moschino, later starting a path that lasted over 13 years within LVMH, where he held the role of CEO of Givenchy and Celine, before joining Burberry, where he spent the last five years. A fundamental lustre for the history and success of the brand, which with Gobbetti welcomed Riccardo Tisci and his new artistic and aesthetic direction, implemented sustainable and green practices, such as the abolition of the use of furs, as well as putting an end to the practice of burning unsold goods. More generally, the last five years have seen an evolution in Burberry's identity, which has detached itself from historic tradition, to open up to a younger and more international market. Despite a 10% drop in sales during the pandemic year, Burberry reported a 31% year-over-year sales increase in the fourth quarter of the year and expects steady growth in the upcoming months. 

The news of Gobbetti's appointment, who will fill the role now occupied by Micaela Le Divelec Lemmi, in Ferragamo since 2018, sent the brand's stock flying, causing the opposite effect on Burberry's stock, listed on the London stock exchange. The handover will take place at the end of the year.