Fabio Maria Damato leaves Chiara Ferragni’s group. The companies Fenice and TBS Crew announced this in a note, which states that from 16 June the manager “will cease from his role as General Manager and advisor to both companies to pursue other professional opportunities”. “The change – we read in the press release – is part of a process of corporate renewal”.
Damato: “Voluntary resignation”
Damato responded to the statement on his Instagram profile. “In these difficult months I have never responded to provocations or incorrect information circulated about me – said Ferragni’s former right-hand man – because as an employee I believed it was not correct to do so given the respect for people, hierarchies and companies for whom I worked. But today it is also appropriate to rectify that my exit was an autonomous and voluntary choice, and not, as announced by the company, that ‘the change is part of a process of corporate renewal'”.
The manager leaves the Ferragni group
Ferragni’s clubs are changing structure, the rift with manager Fabio Maria Damato is now official. The manager had assumed a central role in companies before “Balocco-gate” called into question the adequacy of the managerial structure of the influencer’s group. Fabio Maria Damato had been part of Ferragni’s entrepreneurial universe since 2017.
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Marina di Guardo, Chiara’s mother, replaces Damato
The appointment of the mother, Marina Di Guardo, as de facto general director of the Sisterhood was the first sign of the desire to give a new direction to the Ferragni entrepreneurial group. First of all, a change of image: Chiara’s mother was thus given the same management powers that she previously had in Damato. This is a slow, thoughtful reorganization that comes six months after the pandori scandal in which Damato, as well as Ferragni herself, is involved. The influencer’s former manager is in fact under investigation for complicity in aggravated fraud in the investigation into the Balocco Pink Christmas pandoros made in collaboration with the confectionery company.
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Damato’s role in influencer companies
Fabio Maria Damato’s role was second only to that of the well-known digital entrepreneur. The centrality of the now former manager is demonstrated by the top powers that until a few days ago he had in the influencer’s safe, the Sisterhood (100% Ferragni) which controls the Ferragni empire centered on two companies above all: Fenice and TBC Crew. The first, 32.5% owned, is the licensee of the “Chiara Ferragni” brands and in 2022 – according to the latest available balance sheet – it had achieved 15.6 million in revenue with 3.4 million in profit. TBC Crew, on the other hand, is a “talent agency” that also manages blogs and e-commerce and in 2022 it had a turnover of 14.5 million with a profit of 5.1 million.
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Who is Fabio Maria Damato
Damato’s rise starts from Puglia, precisely from Barletta. From there he moved to Milan to study Business Economics at Bocconi. At the time he had already started writing about fashion, his true passion. It is in this environment, among fashion shows and glossy covers, that Damato meets Chiara Ferragni, it was he who told it during a Ted Talk: “I was a journalist and she was just starting out”. At the time, everyone advised him to mix with the world of bloggers, but Damato’s intuition proved to be a winning one. “Together we decided to make noise – Damato said – we kicked out those who didn’t believe in us”. The manager had taken part in all of the influencer’s projects, including the creation of the documentary “Chiara Ferragni Unposted”, of which he is one of the executive producers.
