Exclusive: Ferragamo Family Explores Stake Sale to Drive Italian Fashion Brand Revamp – Sources | Investing News

By Pamela Barbaglia and Claudia Cristoferi

LONDON/MILAN (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 talks some time after the summer, offering about a 20% stake in the holding vehicle that controls the Milan-listed business, banking and private equity sources said 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

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