MILAN — Salvatore Ferragamo SpA shares tumbled on Wednesday, closing down 8.44 percent to 22.46 euros, hit by the news that parent company Ferragamo Finanziaria SpA had trimmed its stake, and after failing to open in early trade.
The holding sold around 5.9 million ordinary shares, or 3.5 percent of the Florence-based luxury fashion house, at a price of 23.25 euros a share, for about 137.1 million euros. The price was at a discount compared to Tuesday’s close at 24.53 euros.
“I’m looking forward to jumping into the creative process and exploring fashion through a different lens,” said actor Michael B. Jordan exclusively to WWD about becoming the first face of @coach ‘s men’s business. Not only will the actor appear in its global ad campaigns, but he will also create a capsule with designer Stuart Vevers. Tap the link in our bio to learn more. #wwdfashion
“The name of the show is GP — giant pockets,” said Karl Lagerfeld pre-show, in his backstage meeting room at @Fendi to Bridget Foley. @Bellahadid was one of the many famous faces who graced the catwalk including @Gigihadid, @Adwoaaboah, and yes, even @Kendalljenner. #wwdfashion
Photographed by Kuba Dabrowski/WWD
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