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Chiara Ferragni’s empire continues to experience hard times. After the scandal known as ‘Pandoro Gate’ and a series of terminations of licensing agreements with major companies, the Italian influencer and entrepreneur announces another significant setback.
Image source: Flickr
According to the weekly Chi, the Ferragni brand’s flagship store, which opened in 2017 in Via Capelli in Milan, will close in August.
A Ferragni brand icon
The flagship store, strategically located between Piazza Gae Aulenti and Corso Como, has been a symbol of Chiara Ferragni’s success. Since its opening, the shop has displayed the collections of clothing, bags, shoes, jewellery and various collaborations, becoming a reference point for the brand’s fans and customers. The closure of this space represents not only an economic loss, but also a blow to the company’s image.
Recent difficulties
The closure of the Milan shop is only the latest episode in a series of problems Chiara Ferragni is facing. The ‘Pandoro Gate’ scandal, which involved the brand during the Christmas holidays, had a significant impact on the image and trust of consumers. In addition, several companies decided to terminate their licensing agreements with Ferragni, including Pigna, Safilo and Pantene. These terminations further aggravated the group’s financial situation.
Changes in management
Another sign of the internal crisis is the resignation of Fabio Maria Damato, a key figure in the management of the Ferragni group companies. In a joint statement by Fenice and Tbc Crew, it was announced that Damato will leave his role as general manager and advisor as of 16 June 2024, to pursue other professional opportunities. This change was presented as part of a corporate renewal process.
The role of Marina di guardo
In response to the situation, Chiara Ferragni decided to entrust all operational delegations to her mother, Marina Di Guardo. This handover represents an attempt to stabilise the management of the company at a time of great uncertainty. Marina Di Guardo, already known for her commitment and support in her daughter’s career, will have the task of guiding the brand through this critical phase.
Conclusion
The closure of the flagship store in Milan and the recent difficulties of the Chiara Ferragni brand raise questions about the future of the empire built by the influencer. Despite the challenges, the brand still has a strong following and significant potential. It will be crucial for Chiara Ferragni and her team to navigate wisely through this storm, implementing strategies that can restore consumer confidence and financial stability.
As the world watches, the future of the Ferragni brand will depend on its ability to adapt and innovate in an increasingly competitive and evolving market.
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