Salvatore Ferragamo CFO to Be a part of MinervaHub as CEO – WWD

MILAN – On the heels of its newest acquisition, 100% of New and Finest H.F., MinervaHub is gearing as much as welcome Alessandro Corsi as its new chief govt officer.

Corsi is leaving his function as chief monetary officer of Salvatore Ferragamo on Sept. 30,  as reported on the finish of June, and sources mentioned on the time that he was exiting the Florence-based firm to tackle a CEO place.

Matteo Marzotto, president of MinervaHub, praised Corsi’s experience constructed through the years, “coming from such an exquisite firm as Ferragamo,” additionally giving a shoutout to former CEO Michele Norsa, “who has all the time been profitable in forming his groups in the very best manner.”

Corsi will succeed Marco Casoni and Giuseppe Cerea, who will proceed to collaborate with MinervaHub as consultants, and Marzotto will even contribute to the handover, he mentioned.

MinervaHub was established final 12 months to guard plenty of Italian producers within the nation’s provide chain that assist create clothes and equipment. In April it offered a 75 % stake to Funding holding San Quirico SpA.

The remaining 25 % stake stays within the fingers of one of many sellers, Xenon Personal Fairness, with different coinvestors that embrace Marzotto. The entrepreneur pointed to additional acquisitions within the fall, expressing his confidence in persevering with to bulk up MinervaHub’s measurement and broaden its experience.

Requested about choosing Corsi for the job, Marzotto mentioned he was “impressed by the standard of his work and his intensive path, all the time rising in obligations, inside the similar, very strong, group. I feel loyalty is all the time a constructive. And I like the truth that he has totally different abilities, expertise with monetary indicators, processes, operations and enterprise sensibility.”

With a chuckle, he added that Corsi, like himself, is a sportsman, and a fan of biking – additionally a robust ardour of Marzotto’s. “I imagine this helps workforce constructing and cements relationships.”

Corsi was named CFO of Ferragamo in December 2018, efficient Jan. 11 the next 12 months.

After an preliminary expertise within the monetary space of Normal Electrical, he joined Ferragamo’s planning and management division in 2003. In 2006, he was appointed director of group enterprise growth and e-commerce. After that, he took half in Ferragamo’s preliminary public providing venture within the function of investor relations director for the reason that itemizing of the corporate on the Milan Inventory Alternate in 2011 and till 2013, when he was appointed director of the Europe, Center East and Africa area, a place he held till 2018, when he was appointed chief technique officer.

MinervaHub, which stories gross sales of greater than 170 million euros, has a portfolio of greater than 1,000 shoppers, of that are 20 among the many major luxurious manufacturers, and 700-plus workers. 

The corporate stems from the fusion of XPP Seven and Ambria Holding, which Marzotto fashioned in 2021, taking majority stakes in Italian corporations Zeta Catene and Galvanica Formelli, each situated within the Arezzo, Tuscany, space. Zeta Catene produces greater than 2,000 varieties of chains of various shapes, sizes and supplies, corresponding to brass and silver, as equipment for luggage and footwear. Galvanica Formelli affords metallic particulars, parts and galvanic therapies for style equipment.

MinervaHub has grown to incorporate different corporations together with Jato 1991, specialised in delicate and complicated hand embroideries, Conceria Zuma Pelli Pregiate and Quake to call just a few, which function within the styleluxurious market, in design, sportswear, cosmetics, jewellery and automotive. 

The most recent acquisition, New and Finest H.F. relies in Barletta, in Italy’s Apulia area. Since 1989 it has operated primarily within the high-end  leather-based items, footwear, ready-to-wear and equipment  sectors and, particularly, in finishings on textiles, leather-based and artificial supplies.

The founding Doronzo household will proceed to be instantly concerned within the administration of New and Finest H.F. and, aligned with the enterprise mannequin of MinervaHub, is reinvesting within the latter.

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