Wanda Ferragamo, matriarch of famed shoemaker, dies at 96
Reuters
Published Oct 19, 2018 02:04PM ET
Wanda Ferragamo, matriarch of famed shoemaker, dies at 96
FLORENCE (Reuters) - Wanda Ferragamo, the honorary president of the Florentine shoemaker founded by her husband Salvatore, has died at the age of 96, the family said on Friday.
Wanda was left a widow 58 years ago when her husband passed away. She took charge of Salvatore Ferragamo (MI:SFER) alongside her 16-year-old daughter, quickly learning how to run a business while raising her six children.
In recent months the family repeatedly dismissed speculation about a possible sale of the fashion group and appointed Micaela Le Divelec Lemmi, a highly-respected former Gucci executive, as the group's new CEO in July.
The Florence-based group, which issued a profit warning in December, has been battling falling sales and profitability, partly due to a clean-up of inventories. It said in July it would continue to invest in relaunching the brand.
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Written By: Reuters
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