Who will be Salvatore Ferragamo's next creative director?

Paul Andrew will step down as creative director of Salvatore Ferragamo after wrapping up the Pre-Spring 2022 collection, and, at the moment, there are not designated successors. The news comes after the departure of president Ferruccio Ferragamo, who will instead be replaced by his brother Leonardo. This replacement of the company's top management (three new independent roles will be added to the board of directors as well) reflects certainly the desire to update the strategy of a heritage brand that, while remaining one of the few independent fashion brands in the luxury landscape, has been affected more severely than others by the coronavirus crisis. Precisely for this reason, according to some rumours, the brand might be preparing to cede to new investors part of the control of the company, which is at 70% owned by the Ferragamo family. 

According to Lauren Sherman and Robert Williams of Business of Fashion, the Ferragamo family's almost total control over the company was why the brand's style, communications, and strategy remained out of date. In their words: 

A lack of modern management, with the family that owns more than 60 percent of the company often resisting bold changes, has put the brand at a disadvantage in a market that demands speed and flexibility. 

The future of the company, therefore, remains in question: according to Business of Fashion, the 33% drop in sales that occurred during the pandemic could make an unattractive acquisition for mega-groups such as LVMH or Kering; but that doesn't erase the possibility that other fashion industry groups like OTB Group or the New Guards Group may not be interested in investing. On the other hand, the change of leadership along with the arrival of three new board members could signal a simple change of course.