Retail Industry
Industry: Email Alert RSS FeedFERRAGAMO'S NEW STRATEGY; THE LUXE LABEL IS OPENING NEW STORES, TWEAKING ITS WOMEN'S LINE AND TARGETING YOUNGER SHOPPERS.
Footwear News, June, 2006 by NEWMAN, ERIC
Byline: ERIC NEWMAN
NEW YORK - Ferragamo USA is stacking its deck for continued growth.
In exclusive interviews with Footwear News last week, Chairman Massimo Ferragamo and newly-minted President Vincent Ottomanelli laid out ambitious plans for the brand, which include opening new retail stores, expanding wholesale accounts and updating the women's collection - all initiatives that the execs expect to drive double-digit year-over-year growth for the next three years.
The company has set its sights on 13 percent growth in 2006 annual revenues, and 20 percent growth in profits. In 2005, the company grew its overall sales by 8 percent, with double-digit profit growth.
"Massimo has passed over to me a company that's operating...
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