The company Fenice Retail Srl that managed the influencer’s physical stores is in liquidation: disappointing sales, high costs and internal tensions between the partners are fueling the brand’s crisis.
The crisis of the Chiara Ferragni brand continues to generate repercussions on the corporate level: Fenice Retail Srl, a company controlled by Fenice Srl, led by the influencer with a 99.8% share, was put into liquidation at the end of May, coinciding with the closure of the store in via del Babuino in Rome, the last one left after the stop to the store in Milan.
Corporate documents reveal losses of 1.21 million euros in the two-year period 2023-2024, with residual revenues and unsustainable fixed costs. But what exactly happened?
The failure of Chiara Ferragni’s retail project
Fenice Retail Srl was created to directly manage the network of physical stores of the Chiara Ferragni brand with the aim of consolidating the brand also in the physical channel.
After the opening of the flagship store in Milan, the business model proved to be uneconomical, due to operating costs and lower-than-expected sales. The Milan store was closed without official announcements, followed by the closure of the Roman store.
The company has accumulated operating losses and inventory losses, with over 1.6 million euros in write-downs and other charges attributed to the Retail company.
Financial details and internal tensions: the liquidation
In the two-year period 2023-2024, the company recorded revenues of 644 thousand euros, against costs of over 2 million. The losses were 530 thousand euros in 2023, increased to 684 thousand in 2024. This led to the reduction of Retail’s share capital below the legal minimum, with a negative net worth, and to the decision to dissolve the company, appointing Claudio Calabi, already CEO, as liquidator.
The financial situation generated tensions in the meeting on the accounts of the parent company Fenice Srl between Calabi and the representatives of the minority shareholder Pasquale Morgese. The latter contested the lack of documents made available to the shareholders, in particular the absence of the balance sheet of the subsidiary Fenice Retail.
The influencer’s reaction and the future of the brand
Chiara Ferragni responded with a recapitalization of 6.4 million euros of the parent company Fenice Srl, bringing her share to 99.8%. This move covered Retail’s losses and is part of a broader strategy to streamline operations and focus on areas with greater strategic value.
The company announced that the closure of the Rome store and the liquidation of Fenice Retail Srl are decisions aimed at simplifying the structure. At the end of May, a relaunch plan for Fenice Srl was also announced, scheduled for the second half of 2025, with a restyling to renew the brand’s image.
Despite the difficulties, Ferragni continues to promote her brand on social media.
Original article published on Money.it Italy 2025-06-10 10:12:01. Original title: Chiudono i negozi di Chiara Ferragni, buco di €1,2 milioni in due anni
