Italian footwear and fashion group Salvatorre Ferragamo has reported €916 million in revenues for 2020, around a third lower than in 2019 due to the effects of the coronavirus pandemic.

Most of the group’s stores were shut at some point during the first half of the year and, while there was improvement in the second half, many saw new closures as countries initiated subsequent lockdowns.

More than half of sales were in Asia, but declining travel hit the usual tourist sales. China’s retail channel performed well, rising around a third in the fourth quarter. 

Sales in Europe and North America fell about 40% compared with 2019.

Credit: Salvatorre Ferragamo

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