The house of Fendi was launched in 1926 by Adele and Edoardo Fendi as a fur and leather shop in Via del Plebiscito, Rome. From 1946, the five sisters Paola, Anna, Franca, Carla and Alda joined the company in its second generation as a family-owned enterprise and each owned 20 percent. Karl Lagerfeld joined Fendi in 1965 and became the creative director of the luxury fashion label’s fur and women’s ready-to-wear collection (launched in 1977). In 1994, Paola Fendi handed over the presidency of the company to her younger sister Carla. Silvia Venturini Fendi, daughter of Anna, also joined the fashion house in 1994 and has since been the creative director for accessories and men’s lines. By 1999, Fendi generated 32 percent of its business in furs and clothing, 40 percent in accessories and 28 percent in other activities, mostly licenses.