For about €15 million, Salvatore Ferragamo is buying the whole capital of Arts, an Italian company in Scandicci, near Florence, that specializes in the production of prototypes, engineering, quality control and the monitoring of suppliers for the production of men’s shoes. The owner of Arts is Gerry Ferragamo, a nephew of Salvatore Ferragamo, the founder of the eponymous company who died in 1960. Gerry worked with his uncle and founded his own company in 1984. Arts has annual revenues of about €3.5 million. Ferragamo will be paying €11.3 million at the closing, which should occur by the end of the month. By the end of February 2021, it will also pay the equivalent of Arts’ liquidity at the end of March 2020: an expected €3.5 to 4.0 million. In its financial report, Ferragamo said that the acquisition aims to reinforce control over the supply chain by integrating some strategic skills.