Ferragamo’s revenue down 46.6% in first half

Worldwide
Published:  02 September, 2020

Preliminary consolidated revenues for the Italian luxury fashion label amounted to €377 million in the first half of 2020, down 46.6% at current exchange rates and across all product categories.

For the six-month period ended June 30, 2020, the Salvatore Ferragamo Group reported total revenues of €377 million, down 46.6% at current exchange rates (-46.9% at constant exchange rates) compared with €705 million recorded in the same period of 2019. The retail distribution channel posted consolidated revenues down 41% in the period, while the wholesale channel registered a 56.4% decrease in revenues, with a sharp 75.7% decrease for the latter in the second quarter. The Group said it observed an improvement in July across all product categories, particularly in the directly operated stores in Mainland China, Korea and Japan.