From the Balocco scandal to the austerity plan: cuts, disputes and revenues to a minimum. Fenice and Sisterhood in the eye of the cyclone, between silences and doubts about the future.
Billing in the beaten, layoffs with slides, capital increase and state of the state. But the history of the Empire of Chiara Ferragni in two years has gone from the stars to a critical and full of non -said situation.
The revenues collapsed by 90% and the heritage is zeroed after the Balocco scandal. There Fenice Companythe heart of the Ferragni Empire, recorded losses for 10 million euros between 2023 and 2024, completely eroding the net assets. The revenues collapsed at 2 million euros in 2024, seven times lower than 14 million in 2022, when Ferragni’s ascent seemed unstoppable. Today Fenice has just 3.5 million between capital and reserves, in the face of a passive that touches 6.2 million.
The point of no return was the Balocco scandal of December 2023 and so the data, updated to 30 November 2024, show a collapse. The crisis brought a drastic downsizing: 50% cut of staff, abandonment of the historical location and transfer to the offices of the Holding Sisterhood. The sole director Claudio Calabi, called to straighten the route after the scandals, started a austerity plan: costs reduced to 1 million euros for 2025 and formal guarantees on business continuity, approved by the auditor. In 2023, Fenice had 27 employees, but the reorganization led to a reduction in staff accompanied by disbursement for 210 thousand euros in slides. Other funds, about 160 thousand euros, were allocated for the early exit by a property, while over 4.2 million have been set aside to cope with legal disputes.
And in this situation Fenice would also benefit from a public incentive. It would be just over 5 thousand euros, for the hiring of a young man in the two-year period 2022-2023. But the doubt remains if that person ended up then involved in the following cuts. One of the “unconventively transparently transparent” “non -sayings”.
To help avoid liquidation was also the meeting at the beginning of March which approved the 2023 budget (with a delay of over a year) and decided the inevitable capital increase essential to cover the losses and keep the company standing for next year. All with evident and declared internal divisions between the three members.
And then there is the transparency issueon the rest of the empire. The financial statements of Fenice Retail have not been made public, the company that managed the physical stores in the Ferragni brand. Even more uncertain the condition of Sisterhood, the personal holding of the influencer who controls TBS Crew and holds the majority share of Fenice. In 2022 he had 5.8 million in the cash and a net assets of more than 21 million. Today it is not given to know. And the chain effect is also investing Chiara’s sister, Valentina Ferragni. The turnover of Vieffe, its company, dropped in 2023 of one million euros, even if the profit remains of 740 thousand euros.
Can the brand be reborn and all “pieces” of the Ferragni system can stand? Time will say, but time is holding.
