Chiara Ferragni: society at loss and reckless revenues. And now?

On March 10, the meeting is held among the members of Phoenixthe company of Chiara Ferragniand the situation – as told by Corriere della Sera – It is rather tense because in these two provided assemblies (the ordinary one to approve, late budget 2023) and an extraordinary to approve a recapitalization, the future of the company will be decided.

The problems of Phoenix are many: the company of Chiara Ferragni – which also includes Paolo Barletta and Pasquale Morgese – he is at loss and his revenues have fallen. The losses amount to 10 million euros and 2024 revenues are 7 times lower to those preceding the Pandoro case. To this are added the reserves of the Morgese partner (which holds 27.5% of the shares) on the recapitalization of the company, for the uncertainty of the resumption of the company’s brands In the next 12 months, necessary for a possible relaunch.

The budget 2023 – despite the Balocco case – ended with good revenues, around 11-12 million, although in any case falling compared to the peak of 14.3 million in 2022. The strong impact is on 2024 (On the other hand, the pandoro-gate emerged in December 2023) which, according to what would emerge from the partial accounts to 30 November, saw a vertical collapse of revenues. The Chiara Ferragni brand would have produced just under 2 million turnover with cumulated losses to about 10 million.

Chiara Ferragni’s members

The Fenice company is held 32.5% by Chiara Ferragni, 40% by Paolo Barletta and 27.5% by Pasquale Morgese, while Sole administrator is Claudio Calabisettled in November with the agreement of the three members, after the resignation of Ferragni and Barletta. Calabi will also present the 2023 of the budget Patent situation updated to 30 November 2024necessary to proceed with the request for a capital increase by the shareholders – which should be guaranteed even if a shareholder should give up. But according to the sources of the Corriere, the Morgese partner, would be ready not only to oppose the recapitalization of the company, but also to challenge the budget in court if it should be approved, due to the uncertainty of the next few months and the lack of a new industrial plan. Now the priority seems to be give solidity to the company for the next twelve months. Once these have been overcome, you can work on a real relaunch plan of the Phoenix, whose activity is aimed at a very young audience (15-28 years).

The situation is in fact very critical, although the costs of the Phoenix have been cut drasticly, The number of employees has been reduced to eight (they were double) and the company has left its offices To move to the Ferragni holding headquarters, Sister’s.

Source: Vanity Fair

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