What Is The Purpose Of The Family Business'S Ferragamo Listing Rules?

"How rich is the three generation" is the nightmare of many family empires. However, most of the antidotes are the inheritance of "craftsman spirit".

It is not difficult to explain why Japan and Italy are rich in "time-honored brands".

Behind a hundred years of business history is a persistent "early heart".

The starting point of the Ferragamo family is the world-famous Florence, the ancient city of Tuscany, a craftsman gathered in Italy.

Sawatorle, who is not mad, has been madly addicted to all kinds of shoes since childhood. He has decided that shoemaking industry will be the goal of his life.

The Ferragamo family's starting point is world-famous.

The ancient city of Tuscany, Italy, where the craftsmen gathered.

Sawatorle, who is not mad, has been madly addicted to all kinds of shoes since childhood. He has decided that shoemaking industry will be the goal of his life.

The first generation of entrepreneurs, the two generation of practitioners, and the three generation began to face challenges. Ferragamo was the key node for the three generation.

Although professional managers have long been settled and listed have not been avoided, family guardians do not think this is the beginning of family decline, but rather prepare for rainy days.

The genius of the shoemaker is the nightmare of many family empires. However, most of the antidotes are the inheritance of the spirit of the craftsman.

It is not difficult to explain why Japan and Italy are rich in "time-honored brands".

Behind a hundred years of business history is a persistent "early heart".

For a sucking child, letting him do what he likes is what parents should satisfy.

So when he was 11 years old, he was an apprentice with a shoemaker in Naples, and opened his own shop in Bonito at the age of 12.

However, the indulgence of parents has made Salvaotore unmanageable.

"When I was young, it was very difficult for them to stop me from hanging around in the shoemaker shop all day. No one in my family had ever worked as a shoemaker. Actually, when I was born in a small town, when a shoemaker was considered to be a face losing thing, he would shame his family."

This is what Sarah Watts said.

Salvatore's right

It is not surprising to have such a convictions, because he once said: "when making shoes, some kind of magical inspiration always comes naturally in my mind, as if I remember the memory of my former life."

Like many of Italy's sakings across the sea into the United States, the 14 year old Hollywood has left his homeland and started his career in the United States.

Salvatore's career started smoothly.

At that time, the American film industry flourished, and Salvatore quickly received the first order, making boots for American Film Co's western films.

With its comfortable clothes and beautiful design, Salvatore's shoes soon became popular in the performing arts industry.

Many actors went out of the play.

Salvatore's business also opened from a small shop to Hollywood Avenue.

Audrey Hepburn, Sophia Roland, Marilyn Monroe and Duchess of Windsor are loyal customers of Ferragamo.

With the rise of orders, Sarto is not at ease. Instead, he goes to university for further study, studying human anatomy and anatomy, with a view to further enhancing the comfort of Ferragamo brand shoes.

On the other hand, Salvatore insisted on making shoes by hand, so the American craftsmen could not meet the large orders.

This prompted Sarto to return to Florence, Italy, and set up 3 shoe factories to boost production capacity.

In 1930s, Ferragamo already had 600 employees and 60 thousand biennial production scale.

Italy's manufacturing continues to date, and 90% of Italy has become a guarantee for Ferragamo quality.

The two line opened the market to make the Ferragamo brand survive in the Great Depression of the 1929, and then the opening up of Italy and the European market became logical.

After the economic crisis and chaos, Ferragamo's brand influence has crossed the two sides of the Atlantic.

When he became famous, he suddenly died.

The sudden death of the diversified operation of Salvatore is undoubtedly a major blow to the Ferragamo brand, which is on the rise.

At that time, her eldest daughter was only 17 years old.

Last night, sarvatoll entrusted his wife, von Da: "first of all, the 6 children will serve the company when they grow up; secondly, the company will not only make shoes for women, but also complete a series.

Men's wear, leather bags, scarves and accessories. "

Since then, vamda has taken over all the company's business and has taken the family handover of Ferragamo.

It was a great surprise to the world that the doctor's family was born with a great business mind.

During his tenure, he laid a solid foundation for the diversification of Ferragamo. Business expanded from simple shoemaking to clothing, leather bags, perfume and other fashion areas.

Ferragamo gradually became a real fashion empire.

Fiama, the oldest daughter, is the most important role in the second generation of the family.

Vara, the classic princess shoes of Ferragamo, is from her hands. The pair of shoes designed in 1978 is still being produced.

The sale of a million pairs has brought wealth to the entire family.

The million shoe sales also brought her the famous Marx prize in the fashion world, and her father was the winner of the award 20 years ago.

Fiama's contribution to Ferragamo is also due to her promotion of the production of diversified shoes and sizes.

This reform has also contributed to Ferragamo's production of about ten thousand pairs of shoes a day.

With the cooperation of brothers and sisters, Ferragamo expanded from the early years in Europe and the United States to 60 countries and more than 500 stores.

Not only has it made brilliant achievements in the traditional fashion comprehensive field, but even in the famous wine producing area of Tuscany, it runs the winery and yacht manufactory.

Because the purpose of listing is not financing at all. Our company has no liabilities and no shortage of money.

After listing, there will be organizational and legal constraints and protection. "

According to public information, after the listing, Ferragamo's 25.4% stake in the public circulation, the second generation before the 6 brothers and sisters holding Ferragamo Finanziaria (financial Finanziaria) holding a 57.5% stake in the listed company, the Ferragamo family as a whole holds a 10.9% stake in the company.

They can sell their own shares in listed companies, but they can not pfer shares of any parent company.

Ferruccio said, "today, my mother, I and other family members take care of our own businesses, but 100 years later, we may not be there, but the rules are still there, and they can continue. Legal protection will always be effective."

In terms of achievement, the two generation's breakthroughs in shoemaking are less than that of parents.

However, the development of diversification has made the profitability of family businesses strong.

The potential of family businesses can be huge because the family's overall goals are consistent.

At the same time, the risk of family businesses is great, because there will be fighting inside the members.

My experience tells me that the premise of the success of a family business is that we must never manage enterprises like housekeepers.

Ferruccio, the current chairman of Ferragamo, has said so.

Fei Lurgi does not think he is the most innovative person in the two generation of children, but he is good at summing up experience from his lessons.

He believes that rules are the key to good management of family businesses.

For this reason, Ferragamo, who was not bad money, chose to go public.

Ferruccio stressed: "financing is not the reason for listing at all.

Only a small portion of our shares are listed. The Milan stock exchange stipulates that at least 30% of the shares should be listed, but we only have 25%.