Salvatore Ferragamo’s Creative Director Paul Andrew will be leaving the fashion house. Andrew’s last collection will be featured in the pre-Spring 2022 presentation in early May this year.
Andrew began his career at Ferragamo in 2016, starting out as the creative director for the company’s women’s footwear business. Starting 2019, he began leading creative direction for all categories, bringing much-needed editorial success for the brand.
Salvatore Ferragamo is yet to announce a success for the position.
Andrew’s exit from the company comes at a time when the Florence-based luxury fashion house is seeking to revamp its board so as to prevent it from losing market share to bigger players such as LVMH and Kering, the parent company of Gucci, Hype Beast reported. The company’s current chairman Ferrucciio Ferragamo is also expected to step down from the position. Ferragamo’s brother Leonardo Ferragamo will be taking over the reigns. The company is also appointing three other independent board members.
The shake-up comes as the company’s business continues to suffer from a significant decline in travel retail sales. Ferragamo’s sales declined by 33 percent last year, marking the company’s first loss since it went public in Italy a decade ago.
Today, the family-owned business is one of the few fashion houses that have remained independent despite several acquisition attempts by private investors. It is rumored that the company might finally be open to sharing ownership, however.