Salvatore Ferragamo S.p.A., commonly known as Ferragamo, is a luxury goods retailer based in Florence, Italy. Ferragamo was founded in 1927 by Salvatore Ferragamo, an Italian shoe designer. The company specializes in shoes, leather goods, Swiss-made timepieces, and ready-to-wear for men and women.
Ferragamo is known for its high-quality craftsmanship and for using high-quality materials. Throughout its history, it is dubbed a successful brand for its innovative designs and use of color. But, at the same time, it is also known for the high price tag of its products. So what makes a Ferragamo product so expensive?
Why Is Ferragamo So Expensive?
Ferragamo is expensive for many reasons such as the use of some of the finest materials in the world, including calfskin, kidskin, and crocodile. These materials are not only expensive, but they also require a great deal of skill to work with. Also, there’s the company branding that it’s been maintained since its inception almost a century ago.
1. The Brand Name And Legacy
Ferragamo’s brand name and legacy are among the main reasons why its products are so expensive. The company has been around for almost a century and has built a strong reputation for quality craftsmanship and luxury design. As a result, Ferragamo enjoys a high level of brand recognition and customer loyalty, which allows it to charge premium prices for its products.
It has maintained a good reputation with its consumer since its inception. This is the reason why it makes sure that every detail in its products is perfect- from the material used, to the stitching, and even down to the packaging. So, it was able to build a good branding and why it can command a high price for its products.
2. The Use Of High-Quality Materials
Ferragamo uses some of the finest materials in the world, which contributes to the high price tag of its products. For instance, the company uses calfskin, kidskin, and crocodile skin to make its shoes and handbags just like the brand’s iconic Vara pumps ($775) are made. These materials are not only expensive, but they also require a great deal of skill to work with.
In addition, Ferragamo uses other high-quality materials such as wool, silk, and cashmere for its clothing products. Again, these materials are not cheap and require a lot of expertise to work with. As a result, the company can charge high prices for its products.
3. The Use Of Innovative Designs
Ferragamo is also known for its innovative designs. The company was one of the first to use new materials such as nylon and PVC in its products. It was also one of the first to use color in its shoes.
It also ensures that the materials used for the products are sustainable and eco-friendly. For instance, the company uses water-based adhesives for its shoes instead of harmful chemicals.
As a result, Ferragamo’s products are often seen as ahead of their time, which allows the company to charge premium prices for them.
4. The Use Of Swiss-Made Timepieces
Ferragamo’s use of Swiss-made timepieces is another reason why its products are so expensive. Swiss watches are known for their high quality and precision, and as a result, they command high prices.
Ferragamo uses Swiss-made timepieces in its watches and jewelry products. These timepieces are not only expensive, but they also require a great deal of skill to work with.
5. The Use Of High-Quality Craftsmanship
Ferragamo’s products are also expensive because of the high level of craftsmanship that goes into them. The company has a team of skilled artisans who handcraft each product with care and precision.
For example, the company is also known for its use of the “gancio” or “gancini” logo, a metal buckle shaped like a hooked horse’s bit. This level of craftsmanship ensures that it will complement the handbags which are not only time-consuming but also require a great deal of skill.
6. Trusted By Celebrities
Ferragamo is a luxury brand that is often associated with celebrities. Many big names in Hollywood have been seen wearing or carrying the company’s products. Some of the most notable celebrities using and/or supporting the brand are Eva Longoria, Elizabeth Olsen, Jennifer Aniston, and Jessica Alba.
This association with celebrities helps to increase the perceived value of Ferragamo’s products and allows the company to charge premium prices for them.
7. Status Symbol
Ferragamo’s products are seen as a status symbol. The company’s products are often associated with wealth and success.
This is because Ferragamo’s products are not only expensive but are also difficult to obtain—technically speaking, it is not a brand to be seen regularly used by everyday people. Unless the consumer has disposable cash, Ferragamo products are not easy to purchase.
8. Investment Pieces
Ferragamo’s products are also often seen as investment pieces. This is because the company’s products are made to last. They are also designed to be timeless and classic, meaning that they will never go out of style. So, a single piece of Ferragamo is not considered old but vintage, which can be a collector’s item that would have a higher value over time.
This allows consumers to purchase Ferragamo products with the confidence that they will be able to use them for many years to come and/or resell them at a higher price in the future.
Are Ferragamo Products Worth For Their Price Tags?
Each Ferragamo product is definitely worth the price. Ferragamo does not overprice its products in the sense that you’ll get what you pay for. The company makes sure that each product is made with the best materials, using the most innovative designs, and crafted with high-quality craftsmanship.
So, if you’re looking for investment pieces that you can use for many years to come or want to purchase for a collection, Ferragamo is the brand for you. Thus, proper care for each product is still the consumer’s responsibility to ensure that they will last long.
How Much Is A Ferragamo Product?
Well, the price for each Ferragamo varies depending on which item you’re referring to. The company has different product lines for different types of items, so the price will depend on the item itself.
But for example, the Ferragamo handbags would cost approximately $300 and can go up to $30,000 (depending on where you’re buying from). There are different price ranges for the shoes, collection, ready-to-wear, fragrances, and watches.
From Ferragamo’s women’s line of handbags, the cheapest is the Ferragamo Cage Pouch at $375, while the most expensive is the Ferragamo Studio Box Bag (M) at $28,000. And for the men’s line of bags, the Shoe Care Kit priced at $595 is the cheapest while the Business Bag priced at $24,000 is the most expensive piece.
As of writing this article, the most notable handbags of Ferragamo include the Trifolio Swing Bag (price starts at $1,190), the Viva Bow Bag (price starts at $1,100), and the Studio Bag (price starts at $2,650) from the website.
On the other hand, there are sought-after bags of Ferragamo from some of their authorized reseller shops Some of these bags are the Gancini City Leather Chain Wallet ($695) and the Large Gancio City Tote ($1,590). You may visit Ferragamo’s website to see the latest bags available, or you can check its authorized reseller shops like Bloomingdale’s, Nordstrom, etc. if you’re looking for rare-find items of Ferragamo.
Who owns Ferragamo?
Ferragamo is a brand owned by its parent company Salvatore Ferragamo S.p.A. The current chairman of the company is Ferruccio Ferragamo, son of the late founder Salvatore.
Where is Ferragamo made?
The Ferragamo brand is based in Florence, Italy. The company’s products are designed in Italy and made in Italy. This is also according to the report from the Shanghai Daily where the Ferragamo family stated that the company’s products are always made in Italy.
How to tell if Ferragamo shoes are real?
The first thing that you need to check is the label of the shoes. A genuine pair of Ferragamo shoes will have a “Made in Italy” label on them. The Ferragamo company logo is usually found on the insole, on the side of the shoe, or the shoebox.
Also, according to the report made by GQ.com, the Italian label has started adding microchips (now NFC and RFID) to its products such as shoes and bags to establish authenticity in the brand. But the company has to rest assured the consumers that these chips are just used to ensure that the product is not a knockoff and not for invading someone’s privacy.
What makes Ferragamo special?
The late Salvatore Ferragamo was an Italian shoe designer who became popular in Hollywood during the 1920s. He was able to gain a following because of his creative and innovative designs.
Ferragamo is also special because it is one of the luxury brands that are still family-owned. The company is currently run by the late founder’s son, Ferruccio Ferragamo.