Another day brings more closures for Chiara Ferragni, as her name was notably absent from the roster of nine candidates nominated for the board of directors of the company that serves as the primary shareholder of Diego Della Valle & Co. Ferragni’s exclusion from the Tod’s board further amplifies the ongoing saga surrounding the Balocco scandal, thrusting the digital influencer with 29 million followers into the spotlight. Notably, former Ferrari president Luca Cordero di Montezemolo and Luigi Abete have also been ousted. The group clarified that the decision was predicated on the natural expiration of the mandates, with all members of the Tod’s SpA board reaching the end of their three-year terms.

There’s no clear indication that Chiara Ferragni’s removal from the company’s board of directors is directly tied to the Balocco scandal. However, Tod’s decision to part ways with Ferragni, along with actions taken by other brands like Safilo Group, Coca Cola, and Pigna to sever ties with the influencer, coincides closely with the commencement of the investigation. Safilo Group, an eyewear manufacturer, was the first to dissolve its partnership with Ferragni, citing violations of ethical codes and behavior that did not align with the company’s principles of integrity. Ferragni’s tenure on Tod’s board notably contributed to the brand’s growth, leading to a significant surge in the company’s stock market performance, a phenomenon coined the “Ferragni Effect.” This influence extended to other brands, including the Uffizi Gallery in Florence. Just three years later, the government enacted the “Ferragni Law” to regulate philanthropic commercial endeavors.