Seeking to step up its appeal to younger shoppers, luxury Italian fashion house Salvatore Ferragamo has partnered with digital platform Farfetch. The partnership will allow Ferragamo to fortify the online components of its omnichannel strategy, including its presence on the Farfetch marketplace, while also leveraging the platform’s promotional opportunities to engage with millennial and Gen Z consumers via digital experiences.
“Farfetch is the leading digital platform in luxury fashion and represents the ideal partner to further boost Ferragamo’s omnichannel innovation, fueling our plans to reach new, younger audiences and accelerate our growth,” said Marco Gobbetti, CEO of Ferragamo in a statement.
Since leaving his Chief Executive post at Burberry for the CEO role at Ferragamo at the end of 2021, Gobbetti has been focused on steering the 95-year-old brand toward a more modern approach to luxury — one that will entice the next generation of consumers to engage with the fashion house. In addition to bolstering Ferragamo’s digital capabilities, Gobbetti appointed Maximilian Davis as Creative Director of Ferragamo in March 2022 to refresh the brand on the design side.
While certain players within the luxury space have been slow to adopt new technologies, others, including Gucci and LVMH, have embraced the personalization opportunities stemming from digital tools such as AI, machine learning, cryptocurrency and metaverse-style virtual environments.
“This partnership capitalizes on all of Farfetch’s strengths as the global platform for the luxury industry and taps into our vision for Luxury New Retail,” said José Neves, Founder, Chairman and CEO of Farfetch said in a statement. “Ferragamo has a wonderful heritage of creativity and craftsmanship and I am hugely excited about the opportunity to take it to a unique new audience globally. Ferragamo’s outstanding product and creativity, coupled with our marketing capabilities and innovative digital experiences, will captivate that audience while our media and technology platform capabilities power Ferragamo’s digital ecosystem.”