Salvatore Ferragamo has appointed former Barney’s chief executive Daniella Vitale as its new CEO for the North American market as it looks to reinvigorate its business and fight off growing competition from LVMH and Kering.
The Italian shoemaker has also named Vincenzo Equestre as its new CEO for EMEA. Equestre has previously worked in executive positions at luxury brands such as LVMH’s Chaumet and Christian Dior, as well as L’Oreál.
The appointments come nearly six months after the company announced that its creative director, Paul Andrew, was stepping down from his position just over a year after he was hired. The company’s new hiring spree is part of its effort to shake up its management and bring in fresh leadership that can help the company regain its market share. Last year, the company saw its sales decline by 33 percent, marking the first loss since it went public in Italy a decade ago. Meanwhile, other luxury brands such as Louis Vuitton, Burberry and Gucci continued to see growth in their business.
The brand also recently hired Burberry’s CEO, Marco Gobbetti, who is set to join the company later this year.
Vitale and Equestre will report to Ferragamo’s Executive Vice Chairman, Michele Norsa.