The Fenice srl company, part-owned by Italian fashion influencer and businesswoman Chiara Ferragni, is said to have recorded cumulated losses for €10 million in fiscal 2023 and 2024. The news was reported by Italian daily Corriere della Sera, ahead of the AGM which will approve the financial results and the recapitalisation of the company controlling the Chiara Ferragni brands.
Chiara Ferragni
According to Corriere della Sera, the juncture is a complex one for Ferragni, whose personal brand has foundered over allegedly misleading charity claims in 2023, linked to sales of a sponsored Christmas cake and Easter eggs. In 2023, Fenice srl reportedly generated a revenue of €11-€12 million, but it then plummeted to €2 million in 2024.
Ferragni has a 32.5% stake in Fenice, while entrepreneur Paolo Barletta has a 40% stake and Pasquale Morgese holds the remaining 27.5%. The company is currently managed by Claudio Calabi, after Barletta and Ferragni resigned last November.
Corriere della Sera wrote that the crucial issue is whether the company will be able to continue trading. This may be possible according to some of the documents that will be brought to the AGM, but one of the shareholders is said to be unconvinced, given the difficulties Ferragni is having in salvaging her reputation, still Fenice’s key asset.
