For years, Salvatore Ferragamo was fashion’s well-dressed wallflower. Respected? Absolutely. Relevant? Not so much. While other luxury houses dominated social feeds and drove cultural conversation, Ferragamo sat quietly in the corner, polishing its heritage credentials.

But not any more.

Under creative director Maximilian Davis, the Italian house is experiencing something it hasn’t felt in decades: genuine buzz. The proof isn’t just in the redesigned logo or moodier campaigns, it’s in the numbers, the social chatter, and most tellingly, in one particular handbag that’s become fashion’s latest obsession.

One IT handbag can change a lot

The Hug bag looks exactly like its name suggests: curved sides, cinched leather flaps that close like an embrace, and a top handle that screams quiet luxury. Since its debut, it’s been everywhere from stylist Instagram stories to Tiktok feeds and Reddit threads where users gosh over the practicality and elegance of the bag.

“Gosh I want one so baaaad!!” reads one typical comment on r/handbags, where the Hug has become a regular topic of discussion. Users praise its craftsmanship, travel-friendliness, and that elusive quality every luxury brand chases: subtle statement appeal.

Who What Wear named it a must-watch bag of 2024. More importantly, people who previously ignored Ferragamo are now carrying it.

The financial impact is real. Ferragamo’s leather goods surged 9.8% in Q1 2025, directly attributable to hits like the Hug and its sister style, the Soft bag. Despite lower store traffic, conversion rates are up as customers are actually buying these new designs, not just browsing.

The social shift (and a Major Gala moment)

Ferragamo’s newfound heat is definitely not accidental. The brand has ramped up its influencer strategy, styling the Hug and other refreshed pieces on a broader (and younger) cast of faces. Their brand book now actively emphasizes partnerships that align with “diversity and sustainability,” a far cry from the buttoned-up silence of pre-2022.

This recalibration culminated in a major moment at the 2025 Met Gala, where Ferragamo went “all out.” The brand strategically dressed high-profile stars like Kylie Jenner, Ayo Edebiri, LaKeith Stanfield, and Paloma Elsesser in custom looks that honored the “Superfine: Tailoring Black Style” theme. This strategic show of force generated an astounding $17.7 million in Earned Media Value (EMV) for the brand from the event, with Kylie Jenner’s posts alone contributing an impressive $16.5 million. This placed Ferragamo among the top-performing brands and notably, the top footwear brand in terms of EMV at the Gala: a fitting nod to Salvatore Ferragamo’s shoemaking origins.

The brand further cemented its cultural relevance by hosting an exclusive, star-studded dinner during Met Gala weekend, drawing in a who’s who of film, fashion, and culture. It was a clear signal: Ferragamo wants its share of the spotlight, and it’s getting it.

A long overdue fragrance comeback

After seven years without a major fragrance launch, Ferragamo returned to the beauty arena in March 2025 with Fiamma Eau de Parfum—Italian for “flame,” and the first fragrance under Davis’s creative direction.

The timing matters. Fragrance is a high-margin category that luxury brands use to scale accessibility while maintaining prestige. Ferragamo’s long absence from this space was telling; its return signals serious ambition.

But let’s talk numbers: challenge ahead

Of course, no glow-up is complete without the financials. While the surge in leather goods is a bright spot, Ferragamo’s overall revenues saw a 1.0% decline at constant exchange rates in Q1 2025 (not disastrous, considering an 8.2% decline in FY2024). Leadership acknowledges this, calling the current strategy a “foundation for renewal” rather than an instant fix.

Digging deeper into the numbers reveals a mixed bag geographically. While growth has been seen in markets like Europe (+8.3%) and Japan (+3.6%), driven partly by returning tourists, the brand continues to face headwinds in the crucial Asia-Pacific market, which saw a significant 13.7% decline. This sharp contrast with competitors like Tapestry (whose Coach brand saw a 5% increase in Greater China), highlights the regional disparities still impacting Ferragamo’s bottom line. The brand’s traditional strength in footwear also saw a 10.1% decline, a key area for optimization as Davis stated they are “working on optimizing the ladies’ shoes offer.”

The path isn’t without its bumps, however. The brand is currently navigating a leadership vacuum, with the CEO position remaining open since Marco Gobbetti’s departure, adding another layer of complexity to the transformation. These challenges, coupled with a difficult macroeconomic environment and ongoing trade tensions, indicate that the financial recovery is a long-term play.

The verdict

Ferragamo hasn’t achieved its Bottega Veneta moment yet—that explosive cultural breakthrough that transforms a heritage brand into a must-have status symbol. But something undeniable is happening.

The Hug is a genuine hit. The creative direction feels coherent. Most importantly, people are talking about Ferragamo again, and not for nostalgia or scandal, but for products they actually want to buy.

For a brand that spent years in quiet obscurity, this forward momentum feels almost revolutionary. Ferragamo may be just one viral product away from true cultural relevance. After decades of silence, that possibility alone is worth celebrating.