Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Salvatore Ferragamo S.p.A.    SFER   IT0004712375

SALVATORE FERRAGAMO S.P.A.

(SFER)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Salvatore Ferragamo S p A : Ferragamo family explores stake sale to drive Italian fashion brand revamp - sources

10/21/2020 | 10:04am EST

(Adds detail, context)

LONDON/MILAN, Oct 21 (Reuters) - The family owners of Italian fashion house Salvatore Ferragamo have held informal talks with financial investors to sell a minority stake in their holding firm as they seek to turn around the luxury brand and cope with the fallout of COVID-19, five sources told Reuters.

The company's chairman Ferruccio Ferragamo, son of late founder Salvatore, held the discussions sometime after the summer, offering about a 20% stake in the holding vehicle that controls the Milan-listed business, banking and private equity sources said, speaking on condition of anonymity as the matter is confidential.

A spokeswoman for the company - which has a market value of 2 billion euros ($2.4 billion) - denied that the Ferragamo family planned to sell the stake.

The sources told Reuters that the family is still in the preliminary stages of testing market appetite and that a deal might face resistance from investors since the family is not willing to give away any governance control.

Famous for shoes worn by Hollywood stars such as Audrey Hepburn, the Florentine leather goods brand saw its revenues plunge 60% in the second quarter, piling pressure on its family members - who control an overall 65% - to turn around the business.

"They have been calling around for a few months, targeting both private equity investors and sovereign wealth funds for a minority deal," one of the sources said.

A stake sale to deep-pocketed financial investors would help resolve internal disagreements over the company's turnaround strategy, allowing some of its family members to cash out, the sources said.

The heirs of founder Salvatore Ferragamo, including his four surviving children and several grandchildren, are all invested in Ferragamo Finanziaria SpA, which owns 54.3% of the company. Other family members hold an additional 10.7%.

($1 = 0.8436 euros) (Reporting by Pamela Barbaglia in London and Claudia Cristoferi in Milan; Editing by Elaine Hardcastle and Jan Harvey)


© Reuters 2020
All news about SALVATORE FERRAGAMO S.P.A.
11/18Global luxury goods sales set for largest ever fall in Bain forecast
RE
11/11SALVATORE FERRAGAMO S P A : Luxury Brands Urge UK Government Not to End Tax-Free..
DJ
11/10SALVATORE FERRAGAMO S P A : 2020.11.10 Press Release - 9 M 2020
PU
11/10SALVATORE FERRAGAMO S P A : 2020.11.10 - 9 H 2020 Analyst Presentation
PU
11/06Luxury group Chanel increases prices for second time this year
RE
10/26SALVATORE FERRAGAMO S P A : Innovates the customer experience with microsoft and..
PU
10/22GLOBAL MARKETS LIVE : The Coca-Cola Company, L'Oréal, AT&T...
10/21Ferragamo chairman denies informal talks with investors for potential stake s..
RE
10/21EXCLUSIVE : Ferragamo family explores stake sale as stars' shoemaker seeks to re..
RE
10/21SALVATORE FERRAGAMO S P A : Ferragamo family explores stake sale to drive Italia..
RE
More news
Financials
Sales 2020 934 M 1 125 M 1 125 M
Net income 2020 -78,4 M -94,4 M -94,4 M
Net Debt 2020 559 M 673 M 673 M
P/E ratio 2020 -35,0x
Yield 2020 0,02%
Capitalization 2 530 M 3 023 M 3 044 M
EV / Sales 2020 3,31x
EV / Sales 2021 2,73x
Nbr of Employees 3 891
Free-Float 29,0%
Chart SALVATORE FERRAGAMO S.P.A.
Duration : Period :
Salvatore Ferragamo S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SALVATORE FERRAGAMO S.P.A.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 13,36 €
Last Close Price 15,00 €
Spread / Highest target 16,7%
Spread / Average Target -10,9%
Spread / Lowest Target -46,7%
EPS Revisions
Managers
NameTitle
Micaela Le Divelec Lemmi Chief Executive Officer
Ferruccio Ferragamo Chairman & President
Alessandro Corsi Chief Financial Officer
Giovanna Ferragamo Vice Chairman
Leonardo Ferragamo Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SALVATORE FERRAGAMO S.P.A.-20.00%3 023
LVMH MOËT HENNESSY - LOUIS VUITTON SE16.59%290 513
LULULEMON ATHLETICA INC.59.80%48 245
VF CORPORATION-13.99%32 526
LI NING COMPANY LIMITED79.87%13 397
MONCLER S.P.A.2.72%12 434