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Ferragamo chairman denies informal talks with investors for potential stake sale

FILE PHOTO: Ferruccio Ferragamo, president of Salvatore Ferragamo, talks with actress Charlize Theron at the Wallis Annenberg Center for the Performing Arts Inaugural Gala in Beverly Hills, California October 17, 2013. REUTERS/Fred Prouser/File Photo

(Reuters) - Ferruccio Ferragamo "categorically denies" having had any informal meetings or discussions with investors to sell shares in luxury brand Salvatore Ferragamo SFER.MI, a spokeswoman for the fashion group said on Wednesday.

Reuters said earlier in a source-based report that the family owners of the Italian fashion house had held informal talks with financial investors to sell a minority stake in their holding firm as they seek to turn around the luxury brand and cope with the fallout of COVID-19.

Ferruccio Ferragamo, the company’s chairman and son of late founder Salvatore, held the discussions sometime after the summer, offering about a 20% stake in the holding vehicle that controls the Milan-listed business, banking and private equity sources told Reuters, speaking on condition of anonymity as the matter is confidential.

Reporting by Claudia Cristoferi; editing by Agnieszka Flak

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