Italian luxury group Salvatore Ferragamo will not renew its shareholder agreement with Hong Kong’s Majestic Honor Limited, controlled by Peter Woo Kwong-ching, when it expires in June 2026. This concludes a strategic partnership formed in 2011 to support expansion in Greater China. The Woo family holds about 6% of shares as Ferragamo’s second-largest shareholder. A 2017 shareholder pact granted them influence over voting rights beyond their direct stake. The decision signals the Ferragamo founding family’s move to reclaim full voting control as the group navigates financial challenges, including a net loss in 2024.