China offers optimism for Ferragamo
01/02/2019
The company said that the factors that contributed to this fall included currency rates, fewer promotions and “negative trends in the wholesale business”. However, it took encouragement from slight growth of 0.8% for the full year in Asia Pacific, now its most important market. Specifically, in China in the fourth quarter alone, Ferragamo achieved revenue growth of more than 10%.
Sales revenues in Europe for the full year were down by almost 6%, while the decline in North America was 2.4%.
At the start of 2019, Salvatore Ferragamo had a network of 672 points of sale across the globe, comprising 409 directly operated stores and 263 operated by third parties.
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