Wholesale drags down revenue at Ferragamo
21/11/2017
This was primarily due to a 4.7% fall in wholesale revenue, which the brand attributed to “destocking activity”. Its retail sales were up 1.2%.
Ferragamo’s footwear sales dropped 1.2% year on year, while revenue from handbags and leather accessories was 0.6% lower. The only division that posted an increase in sales was fragrances.
Asia Pacific continues to be the Italian brand’s most important market with sales increasing 2.8% in the first nine months of the year. This came in spite of the “soft trend” in South Korea and “ongoing negative performance” in Hong Kong, it revealed.
Sales in China grew 8.1%, but there were declines in Europe (1.6%), North America (4.3%) and Japan (6.7%).
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