Total preliminary (not audited) consolidated revenue for the Group totalled €1.438 billion in the year ended December 31, 2016. Revenues in the fourth quarter indicated an improved trend with +4% overall growth; +1% at constant exchange rates. “The positive development is confirmed also by the further acceleration of the retail channel sales in January 2017”, said Ferragamo in a statement.

The Asia Pacific area represented the Group’s main market in terms of revenues; 36% of the total, +1% in fiscal 2016. Growth in the fourth quarter was over 4% “despite the hard comparison base” (+8% in 4Q 2015). Overall, the retail business registered a decrease of 13% in the quarter at constant exchange rates, however, the retail channel in China recorded a 6% increase in revenues at constant exchange rates, with an acceleration in the fourth quarter, according to the Group. The Japanese market remained stable in the full year, and registered a 3% increase in the fourth quarter.

Europe registered a 4% decline in revenues for the year, and -2% in the fourth quarter. North America, “despite the strong currency that also negatively impacted tourist flows in the United States”, registered a 4% growth in revenues in full 2016, and +7% in the fourth quarter; attributed to the good performance of the retail business (+10%). Revenues in Central and South America reported a 6% growth in the full fiscal year, with a 12% increase in revenues in the fourth quarter.

Among the product categories, shoes registered a 2% revenue growth in fiscal 206, while handbags and leather accessories “showed a stable trend versus a hard comparison base” (+12% in FY 2015).