Ferragamo profits soar

04/09/2013
Luxury footwear brand Salvatore Ferragamo has posted a 26% rise in operating profit and an 81% increase in net profit for the first half of the year, driven by sales in China.

The company said its 11% rise in revenues to EUR 625 million is “even more relevant considering that in the same period of 2012, revenues had already increased by 23%”.

Sales of footwear and leathergoods – which represent more than three quarters of sales – grew 11% and 15% respectively.

Sales in Asia-Pacific, which made up 38% of the total, reached EUR 240 million, 13% higher than the first half last year when sales grew 26% over 2011.

The Italian group had more than 3,000 employees and a network of over 600 mono-brand stores as of 30 June 2013.