Salvatore Ferragamo’s Employees Strike for Possible Interparfums Deal – WWD

MILAN — A gaggle of Salvatore Ferragamo workers protested on Wednesday in a one-hour sit-in in entrance of the corporate’s Osmannoro plant, outdoors Florence.
The strike was introduced final week by the Rsu and Filctem Cgil commerce unions to specific “sturdy opposition” to the style home’s ongoing unique negotiations with Interparfums Inc. for the worldwide licensing of Ferragamo branded perfumes.
As reported, the Florentine firm’s perfume division has been managed in-house for twenty years. Therefore, in an announcement commerce unions underscored that the potential deal implicates that “the rights and jobs of 40 staff are in danger.”
The unions said that, “within the second of the COVID-19’s best affect, staff have tightened their belts; with sacrifice they’ve contributed in overcoming essentially the most troublesome interval by accepting the ‘Cassa integrazione’ [wage support measure] and the rescheduling of the holiday plan, however immediately [now] that the markets are reopening they anticipate their sacrifice to be rewarded.”

Hence, the commerce unions are asking the corporate to interrupt the negotiations for the licensing deal. “Instead of the sale of strategic property such because the one among perfumes, we anticipate the administration to current an industrial plan that invests in innovation and employment,” learn the doc.

In response, the Salvatore Ferragamo firm underscored that the potential licensing settlement “is geared toward guaranteeing an extra enhance to the fragrance enterprise and the continuity of the Made in Italy manufacturing. Negotiations with Interparfums are nonetheless ongoing; as already communicated to the commerce unions, and as has already occurred previously, the corporate is able to [take action] to supply the absolute best options for staff.”
The potential licensing settlement with Interparfums wouldn’t be the primary within the historical past of the Ferragamo perfume enterprise.
In 1994, the model signed an settlement for the event and manufacturing of its first perfume with Eurocos Cosmetics, a Germany-based division of Procter & Gamble.
After discontinuing the cope with nothing having been produced, in March 1997 Ferragamo and Bulgari shaped a three way partnership — every taking a 50 % stake — known as Ferragamo Parfums SA. At the time, Bulgari was given administration accountability underneath a service contract.
After a four-year-long partnership, the 2 events amicably dissolved the three way partnership contract, with Ferragamo, buying from Bulgari its 50 % stake for an undisclosed sum. The Ferragamo Parfums division was established in 2001 to regulate your complete perfume enterprise in-house, from the event of the scent to the distribution.
Interparfums’ perfume licenses embrace Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Moncler, Montblanc, Paul Smith, Repetto, S.T. Dupont and Van Cleef & Arpels. The group additionally owns Lanvin fragrances and the Rochas model.
In the primary quarter of 2021, gross sales of Salvatore Ferragamo fragrances have been up 5.3 % to 10.5 million euros. Overall, within the three months ended March 31, the corporate’s revenues rose 10.3 % to 244.6 million euros in contrast with 222 million euros in the identical interval final yr.

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