Salvatore Ferragamo SpA made its debut on the Milan Stock Exchange, on June 29, in a stirring ceremony at the Bourse attended by 25 family members and more than 100 employees from Florence and Milan. The company floated about 25 percent of its stock in a deal worth 379 million euros, or $520.4 million, in an effort to develop the organization with continuity and a strong management. The offer was oversubscribed by 3.6 times, with demand coming from diversified investors worldwide. Despite the instability of the markets, the Florence-based house has been maintaining the momentum with shares at press time closing up 21 percent from their debut price of 9 euros, or $12.45.
The brand is steeped in heritage and history, which harks back to the founder’s early and successful connection with Hollywood in the Twenties, and is associated with highly skilled Italian craftsmanship. The Ferragamos’ universe—which includes a restored village on the Tuscan hills and vineyards and hotels in Florence, among other investments—fuels an image of grounded luxury.
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