MILAN — Chiara Ferragni has gained full control of Tbs Crew Srl, the company that manages The Blonde Salad online magazine and activities.
She has acquired the 45 percent stake she did not own from a company called Esuriens Srl, belonging to the Morgese and Barindelli families. Financial details of the agreement were not disclosed.
Tbs Crew also operates as a talent agency and digital marketing consultant.
Ferragni thanked her former partners for their support over “these past few years of incredible growth and success for the company.”
Ferragni founded Tbs Crew in 2009 and in 2017 the young digital entrepreneur took on the role of president and chief executive officer.
Ferragni is also the ceo and creative director of Fenice, formerly called Serendipity, which manages her namesake line. As reported, she has been expanding her product offer, launching her first total look collection under her namesake brand for fall 2021 and her first eyewear capsule, which is produced by Luxottica.
The fall apparel collection is the first to be produced by Swinger International, which also owns Genny and has long been manufacturing the Versace Jeans Couture line. The license with Swinger International was inked last year for the production of ready-to-wear, handbags and accessories branded Chiara Ferragni. Footwear will continue to be produced by Mofra, the previous apparel and accessories licensee.
The Chiara Ferragni brand was launched in 2013 as a footwear label, and gradually introduced T-shirts and sweatshirts.
There are Chiara Ferragni stores in Milan, Paris, Cortina, Hong Kong, Shanghai and Hangzhou.
Thanks to the strategic asset and license, and “a very prudent business plan,” Ferragni has told WWD that the goal is to reach sales of 15.4 million euros in 2025 with a net profit of 4.4 million euros, and earnings before interest, taxes, depreciation and amortization margin of 44 percent.
In November, the company signed a trio of deals to bolster its offerings. Aeffe Group-owned Velmar SpA that month signed a multiyear licensing agreement for the production and distribution of underwear and beachwear bowing for fall 2021.
Ferragni also revealed a five-year licensing agreement with Italian high-end children’s wear specialist Monnalisa to create apparel for children up to age 10 starting from the fall 2021 collection.
Most recently she has branched out via a partnership with coffee maker Nespresso.
Counting 23.8 million followers, Ferragni also continues to have several advertising deals ranging from Pantene to Pomellato. In April, she joined to board of Tod’s.