Fenice Retail, the retail subsidiary of Fenice Srl, a company in which Italian fashion influencer Chiara Ferragni now holds a 99% stake, posted aggregate losses in 2023-2024 of €1.2 million, and went into liquidation in May, according to the Radiocor agency.

Fenice Retail’s liquidation means that Chiara Ferragni’s Rome store has closed down too. In 2023 and 2024, Fenice Retail recorded revenues for €644,000, but incurred costs of approximately €2 million. Ferragni is on trial on fraud charges over allegedly misleading charity claims linked to sales of a Christmas cake and Easter eggs. This has likely dealt Fenice Retail the final blow, its losses rising to €684,000 in 2024, from €530,000 in 2023.

“Existing liabilities have led to Fenice Retail’s registered capital falling below the legal minimum, with negative equity, and to the ensuing decision of winding up the company, appointing Calabi as liquidator,” reported Radiocor.

Ferragni herself made a last-ditch rescue effort to paper over Fenice srl’s cracks, injecting a whopping €6.4 million to recapitalise the parent company, which had posted losses for approximately €10.2 million.

As a result, Ferragni now has complete control of the company that operates her brand’s business, and is set to single-handedly lead its relaunch plan. Ferragni has said that the plan’s deployment will be “already visible” by H2 2025, in accordance with “Fenice’s principles of maximum transparency and reliability.”