Paul Andrew is leaving his role as creative director of luxury Italian brand, Salvatore Ferragamo. The (already rumored) departure comes as the company revamps its board of directors in a bid to boost profits. According to Business of Fashion, Andrew will leave after revealing the Pre-Spring 2022 collection in May.
The outlet also reports that Andrew has not yet announced another role, and that the designer may not be replaced. In his most recent role, the Englishman was the first to oversee all of the family-owned brand’s menswear and womenswear categories. He was previously womenswear creative director since joining the company in 2016.
Chairman Ferruccio Ferragamo will reportedly step down from his role and will be replaced by his brother Leonardo. Three new independent board members are due to be added alongside current executive vice chairman Michele Norsa and chief executive Micaela Le Divelec Lemmi. Giacomo “James” Ferragamo will return to the board, while Giovanna, a daughter of founder Salvatore, is set to step down. Media exec Marinella Soldi, consultant Patrizia Giangualano, Frédéric Biousse, the former CEO of Sandro Maje Claudie Pierlot, are also set to join the board.
BoF writes that sales dropped 33% during 2020—to €916m or approx. $1bn—in the first year of losses since the company went public a decade ago.
Andrew also closed his namesake shoe line two years ago. The 42-year-old is an alum of Narciso Rodriguez, Calvin Klein, and Donna Karan. His aforementioned shoe brand, which he launched in 2012, had gained an impressive Hollywood following, including Lupita Nyong’o, Emma Watson, Jessica Chastain, and Emmy Rossum. Might a brand revival be on the cards?
Subscribe to our newsletter and follow us on Facebook and Instagram to stay up to date on all the latest fashion news and juicy industry gossip.
You can view the original article HERE.
:quality(85):upscale()/2024/05/03/637/n/1922564/a9276ca86634f23c02e464.89757585_.jpg)
