Description
Fendi is an Italian luxury fashion house producing fur, ready-to-wear, leather goods, shoes, fragrances, eyewear, timepieces and accessories. Founded in Rome in 1925, Fendi is known for its fur, fur accessories, and leather goods. Since 2001, Fendi has been part of the “Fashion & Leather Goods” division of French group LVMH. Its headquarters are in Rome, in the Palazzo della Civiltà Italiana.
History
Early years
The house of Fendi was launched in 1925 by Adele and Edoardo Fendi (1904-1954) as a fur and leather shop in Via del Plebiscito, Rome. In 1932 Adele and Edoardo Fendi opened a boutique in via Piave; the shop became a popular destination for tourists in Rome.
From 1946, the five sisters Paola, Anna, Franca, Carla, and Alda joined the company in its second generation as a family-owned enterprise, each owning 20 percent. Karl Lagerfeld joined Fendi in 1965 and became the creative director for the fur and women's ready-to-wear collections (launched in 1977).
In 1966, Lagerfeld created the company logo, a double F in a square, which would later be the subject of various reinterpretations. Also in 1966, Fendi presented its first high fashion collection, expanding its interests in the United States and Japan. In 1969, its first commercial line of fur was launched, and in the following years, cosmetics and men accessories were released. In 1977, Fendi introduced clothing for the first time, its ready-to-wear collection.
1980s–1990s
In the 1980s, Fendi expanded its range with perfumes in 1985, as well as eyewear, jeans, and home furnishings in 1987.
In 1989, Fendi opened its first United States boutique in New York on 5th Avenue.
In 1994, Paola Fendi handed over presidency of the company to her younger sister Carla. Silvia Venturini Fendi, daughter of Anna, joined the fashion house in 1994 and has since been the artistic director for accessories and co-designer of the women's line alongside Lagerfeld; in 1997 she designed the Baguette Bag, an iconic model that beat all sales and notoriety records.
Sale of controlling share
Fendi was a family-controlled company until 1999, when Prada and LVMH, the world's biggest luxury goods group, joined to buy 51 percent of Fendi for $545 million; competitor Gucci lost out in the bidding process. Under the deal, Prada and LVMH were obligated to acquire any of the 49 percent of Fendi, should the sisters decide to sell. The label lost approximately 20 million euros in 2001 and again in 2002. In 2002, Prada agreed to sell its 25.5 percent stake to LVMH for $265 million. In 2002, LVMH acquired an additional 15.9 percent of the company. Carla Fendi, a member of the founding family, continued to act as chairwoman and a minority owner until 2008.
On 19 October 2007, Fendi chose the Great Wall of China to present its spring-summer collection and with 88 models, the first fashion show there.
In 2009, Silvia Venturini Fendi created the Peekaboo bag, achieving a success comparable to the Baguette Bag.
2010s
In 2014, Fendi started making plans to use drones to show its catwalk fashions.
In 2015, Fendi celebrated fifty years of business with Karl Lagerfeld and organized its first haute couture fashion show dedicated to furs, Haute Fourrure, at the Théâtre des Champs-Élysées in Paris. Later the brand celebrated its 90th anniversary with a fashion show at the Trevi fountain in Rome and planned to move its headquarters to Palazzo della Civiltà Italiana, paying 2.8 million euros per annum to occupy the space; Fendi instead opened a hotel and its largest store at the location in 2016.
In 2017, Fendi released a customization shop in collaboration with e-commerce platform Farfetch for made-to-order handbag designs.
Recent developments
By 2018, Fendi crossed the 1 billion euro ($1.2 billion) threshold in annual sales and had 3,000 employees worldwide, including around 400 in specialist leather and fur ateliers in Italy, and operated a network of 215 stores.
In September 2020, English designer Kim Jones was announced as artistic director of Fendi's women's collection, formerly occupied by Lagerfeld. Under his leadership, Fendi collaborated with Kim Kardashian West's shapewear brand Skims on a clothing collection.
