Chiara Ferragni was fined 1 million euros at the end of 2023 for deceptive commercial practices.
Italian influencer Chiara Ferragni, the star suspected of fraud in relation to the sale of Christmas buns, will not be reappointed to the board of directors of fashion group Tod’s, according to documents published on its site.
Todd’s has announced a list of nine candidates for the next term of the board of directors to be submitted to the general meeting of shareholders scheduled for April 24, of which the 36-year-old blogger is not part.
An Instagram star followed by 29.1 million people, Chiara Ferragni was appointed to the Italian group’s board of directors in April 2021, an announcement that sent the stock soaring on the Milan stock exchange.
Famous in the fashion world, the influencer is at the center of a scandal over the sponsorship of the Pandora brand, a traditional Christmas brioche marketed at the end of 2022.
In December, Italy’s competition watchdog fined two Chiara Ferragni companies more than one million euros for misleading business practices.
According to authorities, the influencer misled buyers of the brioche by suggesting that part of the proceeds would be donated to benefit children suffering from bone cancer at the Regina Margherita Hospital in Turin (Northwest).
The sale of this special edition of the Balocco brand Pandora brought in more than a million euros for the companies owned by Chiara Ferragni, who assured that she had “always acted in good faith”.
The Balocco confectionery company limited itself to donating 50,000 euros to the hospital, several months before the commercial campaign.
The affair has significantly tarnished the image of the queen of influencers, who made a name for herself in 2009 through her fashion blog titled “The Blonde Salad”.
She then launched her own shoe collection in 2015, collaborating with several labels including Dior and Chanel, and building a multi-million dollar empire through lucrative partnerships with major brands.
Asked about the Pandora affair, Todd’s CEO, Diego Della Valle, declared in February: “With us, Chiara Ferragni has always been very true, she has done great things for charity.”
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