Growth elsewhere makes up for China challenges at Ferragamo
Luxury brand Salvatore Ferragamo has reported revenues of €441 million for the first half of 2022, growth of 16.5% compared to the same period last year.
A small decline in sales in the brand’s largest market, Asia-Pacific (which includes China but excludes Japan), was compensated for by double-digit growth in all other markets.
Footwear accounted for 44.2% of total sales, closely followed by leathergoods with 42.9%. Apparel, accessories and fragrances accounted for the rest.
Chief executive, Marco Gobbetti, said: “We are pleased with the continued growth of revenues and profitability in the second quarter, despite the enduring impact of the pandemic in China. We made excellent progress on our strategic priorities and will accelerate our investment in the second half of the year, as planned, to build strength in platforms and regions to support our growth agenda.”
