Salvatore Ferragamo, the Florence-based label, which has suffered a 30 per cent decline in sales due to the COVID-19 crisis, has reshuffled its management and reappointed Michele Norsa as its executive deputy chairman. Micaela le Divelec Lemmi will continue in her role as CEO but the Ferragamo family has stepped down from their executive positions.
Norsa has taken over the authority previously held by Ferruccio Ferragamo, who will continue in his role as chairman but has passed on his previous executive powers. Norsa has also assumed the chairmanship of the executive committee, and the brand and product strategy committee.
Ferruccio Ferragamo's son, Giacomo Ferragamo has stepped down as a member of the board in order to make a seat available for Norsa. However, he will continue as a manager with strategic responsibilities, focusing on his role as brand & product and communication director.
Norsa boasts many years of experience in the luxury industry, having notably served as CEO at Valentino. Most recently, he was vice chairman at Missoni.