Group revenues for H1 2026 totalled €468 million, down 1.3% at current exchange rates but up 1.9% at constant exchange rates compared with H1 2025. The DTC channel rose 6.1% at constant exchange rates, while wholesale sales fell 11.2% on the same basis.
In the second quarter, consolidated revenues reached €259 million, up 2.4% at current exchange rates and 4.6% at constant exchange rates year-on-year. DTC sales increased 6.6% at constant exchange rates, with all regions recording growth, while wholesale sales were broadly in line with the previous year.
Ferragamo returned to a positive operating profit of €21 million in H1, compared with an adjusted operating loss of €3 million in the same period last year. EBITDA increased to €90 million from €73 million, while net profit was €1.5 million, compared with an adjusted net loss of €16 million in H1 2025. Gross margin also improved to 69.2% from 67.7%, supported by an improved full-price mix.
Regionally, North America delivered the strongest growth, with net sales rising 15.4% at constant exchange rates, followed by Central and South America at 6.8%. Europe declined 8.6%, Asia Pacific fell 3.0% and Japan decreased 1.0% at constant exchange rates.
By product category, footwear sales increased 5.7% at constant exchange rates, while leather goods declined 3.1%. Apparel rose 5.6%, and Silk & Other increased 7.8%.
Outlook
Looking ahead, Ferragamo said visibility on the macroeconomic environment remains limited but that it is increasingly focused on the medium- to long-term development of the business. The group plans to continue strengthening its capabilities, processes and organisational foundations, with particular attention to Asia.
