Demand in Asia pushes Ferragamo’s profit up 30% - footwearbiz: Leading

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Demand in Asia pushes Ferragamo’s profit up 30%

26/03/2013
Italian shoemaker Salvatore Ferragamo forecast a rise in revenues and profits this year after demand in Asia helped lift its 2012 net profit by 30% to $137 million.

Revenues at the Tuscan-based group grew 17% to EUR 1.15 billion last year, showing significant growth in all geographical areas, product lines and distribution channels.

Footwear revenues grew 20% while leathergoods increased 16%, together making up 75% of group turnover.

Asia-Pacific was the top performing region, with a turnover of EUR 420 million, representing 36% of the total. Revenues in Central and South America grew 27%.

“These results are further confirmation of the group’s strategy which, continuing to focus on top quality products and on the 'Made in Italy' values, is deriving great success,” the group said in a statement.

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