Chiara Ferragni, heritage zeroed and peak revenues: the time of truth for her empire, the assemblies on Monday

The losses of 10 million have zeroed the assets, the 2024 revenues would be over seven times less than the pre pandoro-gate (about 2 million against 14 of 2022), one of the shareholders is ready to vote against the budget and possibly challenge their approval in court. But a capital increase is also on the agenda to restore petrol to the company machine and support, according to sources close to the shareholders, the next 12 months of management that will be decisive for a possible relaunch.

The recapitalization

Tomorrow for Chiara Ferragni (32.5%of the capital) and its members Paolo Barletta (40%) and Pasquale Morgese (27.5%) is the day of the truth about the accounts and on the future of Fenice, the key company, owner of the brands, the fulcrum of the small empire overwhelmed by the pandoro-gate. Two assemblies are scheduled: an ordinary for the approval (in enormous delay) of the 2023 budget and an extraordinary to launch an urgent recapitalization. What do numbers say and how will shareholders move? According to what trapes, the sole director of Fenice, Claudio Calabi, who took office in November with the agreement of the three members after the resignation of Ferragni and Barletta, will also present a capital situation updated to 30 November 2024 together with the budget 2023, necessary to proceed with the capital increase, that is, the request to the shareholders to open the portfolio and put back the losses. According to what emerges in the event that some shareholders (Morgese?) Should renounce the financial coverage, however.

The collapse of revenues

The 2023 financial statements ended with still substantial revenues around 11-12 million compared to the peak of 14.3 million in 2022. However, 2023 discounts relatively the repercussions of the Balocco case, which broke out in December of that year. The violent impact is on 2024 which, according to what would emerge from the partial accounts to 30 November, sees a vertical collapse of revenues. The Chiara Ferragni brand would have produced just under 2 million turnover with cumulative losses (2023+2024) to about 10 million. A very critical situation represented in the cleaning budget wanted by Calabi. The costs of the Phoenix have been cut drasticly (in 2025 they will be a million), the number of employees reduced to eight (they were double) and the company left its offices to move to the holding sister's headquarters, the holding of the influencer. The documents that will be presented at the meeting would emerge guarantees on business continuity. And on this assumption the balance with the auditor's ok was drawn up. Risk risk

The criticisms of the Morgese partner

Here, however, is the core of the criticisms of the Apulian entrepreneur of the footwear. According to sources close to Morgese, in fact, the actual lack of business continuity would be evident because there are no prospects for Phoenix whose only asset is the Chiara Ferragni brand, far from attractive today for the great fashion players. Other sources near the shareholders, however, underline that the company could have market outlets in the make -up sector, jewelry and leather goods, with a look at international markets. A new industrial plan would not yet be because today the priority is to give solidity to the company for the next twelve months. After the increase, you can work on a real relaunch plan of the Phoenix whose activity is aimed at a very young audience (15-28 years).

The Assembly opens on Monday in a tense climate

On the merits of the budget, the Morgese member would contest the accounting setting and in particular the consistency of the losses, too high. It therefore also seems to be a distance from the management of Calabi who, as mentioned, only four months ago had been nominated unanimously. The two assemblies, decisive for the future of the Ferragni brand, will open tomorrow in a tense climate even if Ferragni and Barletta have the numbers to approve all the points on the agenda by majority. It will be seen if the discussion will bring Morgese closer to the other members and to the sole administrator Calabi, avoiding the appeal of the Shareholders' Meetings.

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