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Salvatore Ferragamo is partnering with online luxury retailer Farfetch in a bid to get in front of millennial and Gen Z luxury shoppers, the latest in CEO Marco Gobbetti’s plans to revamp the brand’s positioning and expand its digital presence.
“Farfetch is the leading digital platform in luxury fashion and represents the ideal partner to further boost Ferragamo’s omnichannel innovation, fuelling our plans to reach new, younger audiences and accelerate our growth,” Gobbetti said in a statement. Gobbetti joined the Italian brand in January this year from Burberry, where his departure took the industry by surprise when it was announced in June 2021.
As part of the partnership, Ferragamo will use Farfetch Platform Solutions, the company’s white-label tech offering, to power its online store. It will also increase its presence on the Farfetch marketplace.
The Farfetch partnership is a high-profile strategic move under the guidance of Gobbetti, targeting a younger, digital audience as part of the brand’s new direction. So far as CEO, Gobbetti has overseen the appointment of a new creative director for Ferragamo: Maximilian Davis, one of Britain’s hottest young talents. And in June, it opened a store in New York’s Soho neighbourhood that gave away free NFTs, a step into Web3 territory.
Ferragamo plans to utilise Farfetch platforms to develop new digital experiences for a younger, and as-yet largely untapped, luxury audience. “Ferragamo has a wonderful heritage of creativity and craftsmanship, and I am hugely excited about the opportunity to take it to a unique new audience globally,” Farfetch founder and CEO José Neves said in a statement.