July 31, 2018 / 4:05 PM / 19 days ago

Italy's Ferragamo appoints new CEO as revenue and profits keep falling

MILAN, July 31 (Reuters) - Italian luxury goods maker Salvatore Ferragamo said on Tuesday it appointed its general manager Micaela Le Divelec Lemmi, a former Gucci executive, as chief executive. The shoemaker parted ways with Chief Executive Eraldo Poletto in March, a year after he unveiled an ambitious plan for the company, and Chairman Ferruccio Ferragamo has since been serving as interim CEO.

Revenue, profits and like-for-like sales all fell in the first six months of the year compared with the same period of the previous year.

The group, which issued a profit warning in December and is battling to reverse falling sales and profitability, said it would continue to invest to relaunch the brand and optimise the group’s processes. (Reporting by Giulia Segreti; editing by Francesca Landini)

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