A Time of Resilience for the Ferragni Empire: Fenice Begins Its Turnaround
After a period of unprecedented turmoil, the outlook is brightening for Fenice, the company led by Chiara Ferragni to manage her licensing and advertising contracts. Fiscal year 2025 marks a decisive turning point for the company, which has seen its financial health significantly restored under the leadership of sole director Claudio Calabi. The shareholders’ meeting, which wrapped up in barely thirty minutes, reflects a now-streamlined governance structure: the influencer now holds 99.8% of the company’s equity, leaving only a symbolic 0.2% stake to entrepreneur Pasquale Morgese.
An Austerity Strategy That Pays Off
The numbers speak for themselves: Fenice’s revenue jumped 25%, reaching 2.7 million euros compared to 2.1 million the previous year. Even more spectacular is the fact that the massive loss of 3.4 million euros recorded in 2024 has virtually evaporated, stabilizing at around 65,000 euros. This dramatic turnaround is no accident, but the result of a drastic cost-cutting program. Operating costs were cut in half, dropping from 4.9 to 2.7 million euros.
This restructuring, however, required major sacrifices. The workforce, which still numbered 27 employees at the end of 2023, was reduced to just a handful. At the same time, the Fenice Retail division was placed in liquidation following the permanent closure of its brick-and-mortar stores in Milan and Rome, marking a strategic shift toward a more agile business model less exposed to the fixed costs of brick-and-mortar retail.
The Return of Business Confidence
The year 2025 was marked by a major legal development: Chiara Ferragni’s full exoneration in the “Pandoro” case last January. This outcome served as a catalyst for the brand’s commercial revival. Confidence from major players in the fashion industry appears to be returning, as evidenced by the major contract signed with Guess for its denim and fragrance lines, closely followed by a partnership with Calzedonia. The settlement of a dispute with the fragrance giant Douglas also helped to stabilize the company’s finances.
Goal for 2026: Balance and Ambition in Beauty
While Fenice is regaining its footing, Tbs Crew—the other entity in the Ferragni empire managed through the Sisterhood holding company—is still posting a loss of 800,000 euros, though the situation is improving. The stated goal for 2026 is clear: to achieve financial break-even across all business units. To accomplish this, the strategy is heavily focused on the “beauty” segment, a growth driver deemed a priority for turning current discussions into long-term contracts. After a period of survival and rebuilding, the Ferragni empire appears ready to re-enter the luxury and beauty sectors with a healthier structure and a restored image.