The Italian luxury fashion label said its investment in Centric Product Lifecycle Management (PLM) follows its newly launched initiative called "Innovation and Tradition, Together", reports ILM.
"Our main objectives were to obtain the greatest possible visibility into product development, to streamline the design and manufacturing processes in alignment with modern best practices and to establish a platform that allows teams to collaborate", said James Ferragamo, Brand, Product and Communication Director.
"Salvatore Ferragamo is a family-like company where creativity is of the essence, as was our need to improve productivity”, he added. According to Ferragamo, the company started the PLM selection was started to identify a “powerful, out-of-the-box solution” that would give its teams time to focus on creativity and customers, rather than administration tasks and data entry for multiple systems. “The digital platform enables our teams to keep up with very challenging timelines and is part of Salvatore Ferragamo's journey towards innovation, blending handcrafted tradition and digitalisation”, he added.
The Italian luxury goods company has reportedly raised its prices for a number of its products by 5-7% in order to offset a fall in revenues and profits resulting from a slump in demand during the coronavirus pandemic.