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10 April 2018

GROUP'S 2017 SUSTAINABILITY REPORT

The conviction that sustainability is a commitment to be included in development strategies and implemented in the long term led the Salvatore Ferragamo Group to undertake a corporate social responsibility process several years ago, which it continues to pursue with great determination. The 2017 Sustainability Report - the second annual report covering the entire Group - is part of this CSR process and a testament to the Group’s deep commitment to social responsibility.

The 2017 Sustainability Report is the result of Ferragamo personnel’s teamwork and collaboration and meets the consolidated non-financial reporting requirements of Italian Legislative Decree no. 254/2016.

“In 2017 we intensified our commitment with a three-year Sustainability Plan that sets specific targets, and with a Sustainability Policy that establishes rules of conduct to spread a socially responsible company culture,” explained Ferruccio Ferragamo, Chairman of the Salvatore Ferragamo Group. “Ensuring transparency with stakeholders, we aim to share not only the milestones that we have achieved, but the challenges that lie ahead and our future goals as well.”

Prepared in accordance with the Sustainable Development Goals (SDGs) promoted by the United Nations to encourage sustainable development and minimise environmental impacts, the Group’s Sustainability Plan sets six main targets on the basis of which specific initiatives will be pursued over three years. The macro-areas on which Salvatore Ferragamo’s commitment focuses - and which are analysed in the Group’s 2017 Sustainability Report as well - are People; Made in Italy; Products and relationships with suppliers; Territory and Culture; Environment.

“Thanks to our people and their positivity, the Group has embraced sustainability as a value and made it a vital factor in our development strategies,” added Ferruccio Ferragamo. “Our people are the very essence of our Brand and this is why we are committed to celebrating their professionalism and individuality, offering them opportunities for growth, well-being and respect.”

Demonstrating the deep commitment to the health and safety of its people, in 2017, the Group earned OHSAS (Occupational Health and Safety Assessment Series) 18001 certification for all its production sites and stores in Italy, and plans to extend the scope of this certification in forthcoming years.

“We firmly believe in our local community, synonymous with history and culture, and in the talent of young Italians, who are capable of resolving today’s problems and updating Italy’s creative legacy,” added the Chairman. “It is in Ferragamo’s DNA to both preserve the past of Italian tradition and cultivate its future, and we have sustained this legacy by financing, on one hand, restorations of important works of art, like Neptune’s Fountain in Piazza della Signoria, Florence, and promoting, on the other, experimentation with sustainable materials, while remaining steadfast in our commitment to Made in Italy products and our respect for the innovative spirit of Salvatore Ferragamo’s founder.”

Environmental protection is another top priority for Ferragamo and one of its CSR targets. In 2017, the Group invested in projects to reduce consumption and obtain important environmental certification for its facilities, in order to minimise the environmental impacts of its operations.

These investments include the new logistics hub under construction near the Group’s Osmannoro site (Florence), designed up to standards of efficiency so high that will be LEED Platinum certified, and the new design and prototyping Modelleria for men’s and women’s leather goods which opened last November. This cutting-edge centre for craftsmanship is situated in a building that has undergone comprehensive redevelopment and renovation to contain energy consumption and emissions, optimise energy absorption and use energy from renewable sources, with the installation of a new solar power system.

The Group’s commitment to certification included retail operations in 2017 as well: in October, the historic Canton Road store in Hong Kong received LEED Gold certification, followed by the Troy store in Michigan, with LEED Silver certification. 

To strengthen its commitment to continuous improvement in innovation, competitiveness and the environment, last November, Salvatore Ferragamo joined the Alleanza per l’Economia Circolare, an Italian alliance promoting circular economy, in which each sector is headed by an Italian company with global leadership in its field and a long-standing commitment to promoting circular economy. Ferragamo’s approach to a circular economy is based on the power of innovation and efficiency in design: this is why the Group strives to make products that last longer, by investing in quality and thereby reducing waste. Salvatore Ferragamo sees “Made in Italy” as a responsible way of doing business, an approach that rewards our Country’s artisanal excellence and that - with a supply chain of expert craftspeople - generates positive value and protects Italy’s unique know-how and heritage.

“My father used to say that there is always something more beautiful and more perfect to create,” concluded the Group’s Chairman, Ferruccio Ferragamo. “More than an affirmation, this is a call to action to strive for continuous improvement and raise the bar ever higher, to promote a responsible business every day, based on respect for people, the territory, the environment and the community.”

The Salvatore Ferragamo Group Sustainability Report 2017 is available on the website csr.ferragamo.com

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