Higher revenues for Salvatore Ferragamo in 2019

Worldwide
Published:  30 January, 2020

Preliminary consolidated revenues for the Italian fashion house amounted to €1,377 million for the year ended December 31, 2019, up 2.3% at current exchange rates and 1.3% at constant exchange rates, compared with 2018.

Among the product categories, at constant exchange rates, Salvatore Ferragamo’s revenue from footwear increased 3% in 2019, handbags and leather accessories 2.8%, while fragrances were down 7.9% compared with 2018. The Italian fashion Group confirms the Asia Pacific region as its main market in terms of revenues, up 1.1% in 2019. The retail channel in China recorded a 13.8% growth in the year, despite the performance in the region continuing to be “significantly negatively impacted by the difficult geopolitical situation occurring in Hong Kong”, according to Ferragamo; retail sales in the region declined over 50% in the fourth quarter of 2019 compared with the same quarter in 2018. The EMEA posted a 5.3% increase in revenues, with a further acceleration in the fourth quarter. Revenues in North America (-0.7%) and Japan (-0.5%) remained flat, while revenues in Central and South America were up 7.1% in the year.