Ferragamo confident new direction will pay dividends
Italian shoe and leathergoods brand Salvatore Ferragamo said it is confident its “creative transition” to attract a younger customer will pay off, despite first half revenues of €600 million, 5% lower than the first half last year.
CEO Marco Gobbetti said: “We kept the focus on the operating improvements and brand initiatives to support a new offering that is relevant for our customer aspirations, while continuing the optimisation of our retail and wholesale networks.”
He added the company was pleased by the early results of the products designed by creative director Maximilian Davis.
He said: “As we move further into the year, the higher share of new products, the continued marketing investments, together with compelling store and on-line execution, will strengthen the brand image and create engagement with existing and new audiences.
“While conscious of an increasingly uncertain market environment, the choices and work we have done reinforce the commitment to our strategic priorities and the confidence in our medium-term ambition.”
