The ferragamo family business initial dreams & vision: part 1

Listen to Wanda Ferragamo, whose family owns and operates Salvatore Ferragamo S.p.A., an Italian luxury goods company, describe how her husband's dream became a family owned international luxury brand and how leadership was shared among the sibling (second) generation.

We started to talk about the future of our children. I wanted that one day is the House of Ferragamo, the…the dress, the shoes, the bag, scarves, all Ferragamo. I was dreaming, “If Fiamma can do this, Giovanna can do that.” Fiamma was studying very well, but he said, “Please ask her to stop studying. She has to come near me,” and Fiamma did not want to stop, so it was insisted to me, he said, “You are the mother, perhaps you can convince her,” so I said to Fiamma, “Fiamma, try to please your daddy. Perhaps one day you will be glad to have done it.” So Fiamma next day she said, “Alright, mommy I’ve decided.” Fiamma is the eldest, started doing shoes. Giovanna started with the clothes. She loved the colors, she loved the materials, so she went to a proper school for that. Then was Ferruccio, the third one and was still studying, and he was not keen for fashion but a good administrator. He is wonderful at finance. Then comes Fulvia, she married in Milan with a wonderful lawyer. They live in Milan, Visconti. She felt that she was a little bit detached from the family. So I said, “Fulvia, you will do something about silks, scarves, ties.” She is responsible for all the ties. She looks at books all over. She goes to England, she goes to antique book dealer to find the books, and she finds of the designs, everything. We put her in a nice office for her in Milan, she started, and now it is quite important. Then Leonardo, Leonardo was worried saying, “But I do not see…nothing that I can do,” because he wanted to join the family business. I said, “Do not worry, you will do the distribution.” He has done a wonderful job, opened in Japan, Hong Kong, Taiwan, Singapore. Massimo takes care of the United States distribution. Not a competition at all, although they get together, we get all together, to take a decision, we will do this, we will do that, what do you think of that? And it is a pleasure. It is a joy.