Fendi

Fendi (Italian pronunciation: [ˈfɛndi]) is an Italian luxury fashion house producing fur, ready-to-wear, leather goods, shoes, fragrances, eyewear, timepieces and accessories. Founded in Rome in 1925, Fendi is known for its fur and fur accessories, and for its leather goods such as "Baguette", 2jours, Peekaboo, and Pequin handbags.[2]

For the village in Béchar Province, Algeria, see Fendi, Algeria.
Fendi
Subsidiary of LVMH
IndustryLuxury fashion
Founded1925; 94 years ago
Headquarters
Rome
,
Italy
Number of locations
197 stores worldwide (2014)
Key people
Silvia Venturini Fendi (Creative Director)[1]
Pietro Beccari (Chairman and CEO)
Revenue €800 million (2011), tg
US$1.1 billion
Total assetsUS$970 million
Total equityUS$330 million
OwnerLVMH
ParentLVMH
Websitewww.fendi.com
Fendi shop at the Elements, Union Square, Kowloon

History

The house of Fendi was launched in 1925 by Adele and Edoardo Fendi as a fur and leather shop in Via del Plebiscito, Rome.[3] From 1946, the five sisters Paola, Anna, Franca, Carla and Alda joined the company in its second generation as a family-owned enterprise[2] and each owned 20 percent.[4] Karl Lagerfeld joined Fendi in 1965 and became the creative director of the luxury fashion label's fur and women's ready-to-wear collection (launched in 1977).[5]

In 1994, Paola Fendi handed over the presidency of the company to her younger sister Carla.[6] Silvia Venturini Fendi, daughter of Anna, also joined the fashion house in 1994 and has since been the creative director for accessories and men's lines. By 1999, Fendi generated 32 percent of its business in furs and clothing, 40 percent in accessories and 28 percent in other activities, mostly licenses.[7]

Fendi was a family-controlled company until 1999, when Prada and LVMH joined forces to buy 51 percent of Fendi for $545 million; competitor Gucci lost out in the bidding process.[8] Under the deal, Prada and LVMH were obligated to acquire any of the 49 percent of Fendi that the sisters should decide to sell.[9] The label lost approximately 20 million euros in 2001 and again in 2002.[10] In 2002, Prada agreed to sell its 25.5 percent stake to LVMH for $265 million.[11] In 2002, LVMH acquired an additional 15.9 percent.[12] Carla Fendi, a member of the founding family, continued to act as chairwoman and a minority owner until 2008.[13]

In 2014, Fendi started making plans to use drones to show its catwalk fashions.[14]

In 2015, Fendi discontinued all of the Fendi fragrances.[15]

Also since 2015, Fendi has been headquartered at the Palazzo della Civiltà Italiana.[16] Fendi will reportedly pay 2.8 million euros per annum to occupy the space.[17]

In 2017, Fendi released a customization shop in collaboration with e-commerce platform Farfetch for made-to-order handbag designs.[18]

By 2018, Fendi crossed the 1 billion euro ($1.2 billion) threshold in annual sales.[19] At that point, the label had 3,000 employees worldwide including around 400 who work in specialist leather and fur ateliers in Italy. It also operated a network of 215 stores.[20]

Philanthropy

In 2013, Fendi pledged more than 2 million euros to sponsor projects including a clean-up of the Quattro Fontane[21] and the restoration of the Trevi Fountain in Rome, and held the company’s 90th anniversary show over the fountain using a plexiglas floor.[22][23] In 2018, Fendi signed a partnership with the Galleria Borghese to support the museum's exhibitions for the following three years.[24] In 2019, it committed 2.5 million euros to restore the Temple of Venus and Roma, the largest temple of ancient Rome.[25]

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References
  1. Scott, Fiona Sinclair (14 January 2020). "After Losing Karl Lagerfeld, Silvia Fendi Forges on at One of Italy's Most Storied Fashion Houses." CNN. Retrieved 31 May 2020.
  2. "Fendi perfumes and colognes". Fragrantica.com. Retrieved October 24, 2011.
  3. Chevalier, Michel; Gerald Mazzalovo (2012). "3". Luxury Brand Management (second ed.). Singapore: John Wiley & Sons. p. 53 (of 316). ISBN 978-1-118-17176-9.
  4. John Tagliabue (October 13, 1999), French-Italian Alliance Takes Controlling Stake in Fendi New York Times.
  5. Bergin, Olivia (October 24, 2011). "Karl Lagerfeld to launch new, accessible line". The Telegraph. London. Archived from the original on November 4, 2011. Retrieved October 24, 2011.
  6. FENDI INVESTIGATED British Vogue, 2 December 2003.
  7. Suzy Menkes (November 24, 1999), Fendi Purchase Finalized With Promise of 300% Sales Growth : Kisses as LVMH and Prada Sign International Herald Tribune.
  8. Suzy Menkes (October 13, 1999), Prada and LVMH Join Forces to Buy Italian Fashion House Fendi International Herald Tribune.
  9. John Tagliabue (October 13, 1999), French-Italian Alliance Takes Controlling Stake in Fendi New York Times.
  10. Tracie Rozhon (October 22, 2003), A Struggling LVMH Unit Looks Beyond the Handbag; But Fendi Insists That Leather and Fur Are Forever New York Times.
  11. Prada Selling Fendi Shares to LVMH Associated Press, November 24, 2001.
  12. LVMH Adds Another 15.9 Percent of Fendi Women's Wear Daily, July 9, 2002.
  13. Tracie Rozhon (October 22, 2003), A Struggling LVMH Unit Looks Beyond the Handbag; But Fendi Insists That Leather and Fur Are Forever New York Times.
  14. Zargani, Luisa (18 February 2014). "Fendi Partnering With Google to Livestream Runway Show". WWD. Retrieved 24 February 2014.
  15. "LVMH discontinue Fendi fragrances (again) — Basenotes.net". www.basenotes.net. Retrieved 2019-06-15.
  16. Stephanie Kirchgaessner (October 22, 2015), Fendi rejects criticism over new HQ in Mussolini propaganda building The Guardian.
  17. Fendi's New Headquarters Are a Fascist Icon Blouin Artinfo, July 18, 2013.
  18. Rachel Arthur (29 November 2017). "Customized Luxury: Fendi Turns To Digital For Bespoke Handbag Launch". Forbes. Retrieved 27 March 2018.
  19. Sudip Kar-Gupta and Sarah White (February 20, 2018), LVMH taps Dior's Brunschwig to lead luxury brand Fendi Reuters.
  20. Sudip Kar-Gupta and Sarah White (February 20, 2018), LVMH taps Dior's Brunschwig to lead luxury brand Fendi Reuters.
  21. Rachel Sanderson (January 30, 2013), Brand Italy puts a price tag on history Financial Times.
  22. "Fendi: why the fashion house is investing in Rome's patrimony". The Week. 5 March 2018. Retrieved 27 March 2018.
  23. Roberts, Andrew (23 June 2014). "Fendi Touts Dolce Vita as Owner LVMH Relies on Brand". Bloomberg.
  24. Luisa Zargani (13 September 2017). "Fendi Inks Partnership With Rome's Galleria Borghese". WWD. Retrieved 27 March 2018.
  25. Vanessa Friedman (July 5, 2019), Fendi, the Legacy of Empire — and Lagerfeld New York Times.
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