Ferragamo may delay Italian IPO

Salvatore Ferragamo SpA, the 81-year- old Italian maker of luxury shoes, may delay its initial public offering until next year as consumer spending falls and stock markets stagnate, two people with knowledge of the plans said.

Ferragamo's IPO is on hold until markets improve, said the people, who declined to be identified because the plans are confidential.

The Florence, Italy-based label, founded in 1927, is owned by the Ferragamo family. The IPO's timing "will depend on the markets," Chief Executive Officer Michele Norsa wrote in a text message from Vietnam on Thursday, declining to elaborate.