MILAN – Fabrizio Freda has a new commitment.

Ferragamo Finanziaria S.p.A., the holding company of the Ferragamo family and the controlling shareholder of Salvatore Ferragamo S.p.A., has appointed Freda as special strategic advisor.

Diego di San Giuliano, chairman of Ferragamo Finanziaria, touted Freda as “a manager of recognized international standing, whose experience will represent an important contribution to our medium – to long-term strategic reflections and to strengthening the entrepreneurial role of our family.”

This step could be seen as dispelling ongoing rumors that the Ferragamo family is looking to sell the company.

Di San Giuliano added that the appointment “is part of a broader effort to strengthen the holding company, with the aim of best supporting the development and value creation of all our activities, further consolidating the path already undertaken by the management team of Salvatore Ferragamo over the past year.”

Freda is tasked with contributing to strategic decisions, including the selection of the future chief executive officer of the Florence-based fashion brand, and the strengthening of the structure and operations of the Ferragamo Group as well as the family’s other businesses, which range from hospitality to real estate.

He is seen as possibly also serving as a member of the board of the fashion group. “The focus of the collaboration is on creating value in the medium to long term and strengthening the path undertaken in alignment with the group’s core values,” stated Ferragamo.

Freda retired from his role of president and CEO of The Estée Lauder Companies in December 2024, having joined the group in 2009.  Previously, he held roles of increasing responsibility for approximately 20 years at Procter & Gamble. Estée Lauder enjoyed many years of success under Freda, riding the wave of the Chinese beauty boom, as well as a focus on hero products. He also oversaw a number of high profile acquisitions like Deciem and Tom Ford.

Among other positions, he is now a member of the board of asset management company BlackRock.

“I thank the Ferragamo family for their trust and believe that this collaboration will generate important opportunities for value creation,” said Freda. “I am ready to make my skills and experience available to support Ferragamo Finanziaria and the family in their strategic decisions, strengthening the path already undertaken with a spirit of collaboration and an international outlook, always with the priority of enhancing the group’s businesses.”

Since the exit of Marco Gobbetti as chief executive officer of Salvatore Ferragamo last March, executive chairman Leonardo Ferragamo has been spearheading the strategy of company with a transitional chairman advisory committee. It comprises James Ferragamo, chief transformation and sustainability officer, and son of Ferruccio Ferragamo; the company’s former chief financial officer Ernesto Greco, and former CEO Michele Norsa, who has taken on the role of special chairman adviser. 

The company is due to report its first quarter financial results on May 14. In the 12 months ended Dec. 31, consolidated revenues amounted to 976.5 million euros, down 5.7 percent compared with 2024. At constant exchange rates, the decrease stood at 3.8 percent. In the fourth quarter, sales totaled 282 million euros, down 3.2 percent compared with the same period a year earlier.

Commenting year-end results, the group in January outlined the progress made and its business priorities, as it had started to implement “the necessary actions to ensure full alignment and coherence across design, product, communication and distribution channels, leveraging its strong heritage and creative capabilities.”

The brand is designed by creative director Maximilian Davis, who was tapped by Gobbetti in March 2022.

In addition to focusing on its core footwear and bags categories, Ferragamo has invested in more efficient and improved communication campaigns, and on its retail network, aiming to improve its visual displays and enrich its in-store experience, while progressing with store renovations and strengthening data-driven clienteling.