Wanda Ferragamo passes away at 96

She took charge of Salvatore Ferragamo alongside her 16-year-old daughter, quickly learning how to run a business while raising her six children.

Wanda Ferragamo, the honorary president of the Florentine shoemaker founded by her husband Salvatore, has died at the age of 96, the family said on Friday.

Wanda was left a widow 58 years ago when her husband passed away. She took charge of Salvatore Ferragamo alongside her 16-year-old daughter, quickly learning how to run a business while raising her six children.

In recent months the family repeatedly dismissed speculation about a possible sale of the fashion group and appointed Micaela Le Divelec Lemmi, a highly-respected former Gucci executive, as the group's new CEO in July.

The Florence-based group, which issued a profit warning in December, has been battling falling sales and profitability, partly due to a clean-up of inventories. It said in July it would continue to invest in relaunching the brand.