Ferragamo refocuses its strategy on leather goods
Faced with an uncertain economic climate, the Italian fashion house Ferragamo is betting on its fundamentals to revive growth: leather, its iconic bags and luxury shoes.
Iconic bags at the heart of the relaunch
Hug”, “Gancini”, “Studio Box” and “Soft Bag” models: never before has Ferragamo’s range of leather goods been so prominently featured. Both on the official website and on social networks, bags now take center stage. This strategic repositioning is not insignificant. Faced with a sales decline of -8.2% in 2024, the company managed to limit the decline to -1% in the first quarter of 2025, reaching just over 221 million euros.
Back to historical know-how
This shift is part of a strategy to refocus on “core” products, the pillars of the Ferragamo identity. The aim? To enhance the value of leather craftsmanship, the DNA of the house founded in Florence.
In addition to leather goods, management also wants to rebalance its footwear range, in particular by consolidating the offer around functional and iconic models: ballerinas, pumps, and men’s shoes with sporty-chic or formal lines.
A review of price ranges is also underway, with the ambition of strengthening the accessibility of certain products while maintaining a high-end positioning. All under the watchful eye of Maximilian Davis, Artistic Director since 2022, who infuses the company’s classic lines with a sleek modernity.
A strategy aligned with changes in the sector
Ferragamo is not the only company to opt for a return to the essentials. Burberry, for example, is currently pursuing a similar strategy, refocusing its offer around emblematic products in a global economic context less favorable to experimental luxury.
This repositioning is also a pragmatic choice: in 2024, shoes represented 45.7% of Ferragamo’s sales, and leather goods 40.9%, out of a total of 1.03 billion euros. Betting on these flagship categories means capitalizing on what already appeals most to customers.
By relying on the strength of its classics, Ferragamo hopes to combine heritage and desirability, to return to a sustainable growth dynamic.
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