Salvatore Ferragamo on Friday confirmed it is parting ways with creative director, Paul Andrew. The Italian luxury house officially announced the British designer will leave the company in May 2021.
“I was deeply inspired by the intelligence and technical mastery of Salvatore Ferragamo, a man who with his genius built the company that today bears his name. It has been an honor to carry on and breathe new life into his legacy of revolutionary design and innovation. I will always be grateful for this opportunity, proud of the work we have accomplished and that encourages me to continue to create with integrity and conviction,” Andrew said in a statement.
“Salvatore Ferragamo thanks Paul Andrew for his passion, commitment and contribution in strengthening the position and creative vision of the company,” commented Micaela le Divelec Lemmi, CEO of the fashion house.
Salvatore Ferragamo closed the 2020 financial statements with an EBITD of 160 million euros, down by 52.2 percent compared to 336 million euros in 2019. During the year, the brand achieved consolidated revenues of 916 million euros, reporting a decline of 33.5 percent.