Fenice, the Chiara Ferragni brand’s parent company in which the eponymous Italian fashion influencer holds a 99% stake, has announced a “complete overhaul” of the brand.

The company’s 2024 financial statement will be approved by the end of June. In a press release, Ferragni said that “this restyling is part of our long-term strategic vision to revive the brand's positioning and strengthen its market presence.”

The influencer has fully underwritten a share capital increase for Fenice worth €6.4 million, thus taking control of the company in which she holds a stake of nearly 99%. The operation “shows Ferragni's determination and commitment to relaunching and growing the company, a unique example of female entrepreneurship in Italy,” and emphasises how “a successful celebrity can invest in her company's future through concrete and targeted initiatives.” 

The Chiara Ferragni store in Rome is set to close as part of the measures announced by Fenice to comprehensively overhaul the brand. The store closure, as well as the liquidation of the Fenice Retail subsidiary, is designed to achieve “a more efficient resource allocation,” said Fenice, with the aim of “streamlining our corporate structure and focusing on the areas of the highest strategic value.”

At the same time, Fenice said it is assessing “a strategic retail distribution plan” involving a rethink of its online and offline commercial approach, with the aim of “increasing [Chiara Ferragni’s] presence on digital channels and optimising the brand’s performance in physical stores.” The plan “aims to ensure a more granular and targeted retail footprint, responding to the needs of an ever-changing market.”

The company’s 2024 financial statement will be approved by the end of June, and according to Fenice it will be “fully consistent” with the results reported on November 30.

The brand is, therefore, “looking to the future with renewed confidence, ready to undertake a new phase in which it will expand and strengthen, bolstered by the resources it has recently acquired.”

The plan’s deployment will be “already visible” by H2 2025, in accordance with “Fenice’s principles of maximum transparency and reliability.”

At the same time, the “new strategy’s first practical effects” will begin to make themselves felt, marking a “new positive phase for the company.”