BREAKING NEWS

BREAKING NEWS

Ferragamo chairman says luxury shoemaker not up for sale

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MILAN (Reuters) - Ferragamo's Chairman Ferruccio Ferragamo denied on Saturday the founding family could consider selling the eponymous luxury shoemaker, after speculation about a possible sale.

"We're in love with this company, it's not up for sale," the Ferragamo chairman said on the sidelines of a fashion show in Milan.

The chairman and newly-appointed Chief Executive Micaela Le Divelec expressed confidence about the group's ability to relaunch.

Shrinking profits in the past two years and the challenge of rejuvenating a brand rendered famous by Hollywood stars such as Audrey Hepburn have fuelled market talk that Ferragamo could follow other Italian fashion names that have been snapped by foreign buyers.

(Reporting by Claudia Cristoferi; Writing by Valentina Za; Editing by Edmund Blair)

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