Fourth quarter growth boosts Ferragamo
06/02/2017
This slight growth was the result of an “improved trend” in the fourth quarter, which saw a 4% increase in sales year-on-year. Salvatore Ferragamo said this had continued into 2017, with its retail channel performing well in January.
Sales of shoes increased 2% in 2016. This category makes up 42.5% of the group’s total revenue. Its other principal product category, leathergoods and handbags, recorded flat sales.
Asia Pacific remains Salvatore Ferragamo’s most important market, bringing in 36% of total revenue. Sales were up 1% in 2016. Sales rose 6% in China, with acceleration in Q4. The company said lower tourist flows had impacted European revenue, which dropped 4%. The North American market grew 4% year-on-year.
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