The company reported a decline in consolidated net sales for its direct-to-consumer (DTC) channel of 11.1% (7.5% at constant exchange rates), while the wholesale channel had a decrease of 38.3% (38.6% at constant exchange rates).

Net sales were down 30.8% (31% at constant exchange rates) in EMEA against a strong base of comparison in the previous year, driven by drops in wholesale. DTC for this region was up 3.5% at constant exchange rates while wholesale fell 51.3%.

North America had a net sales decline of 10.9% (9.2% at constant exchange rates), also driven by a double-digit wholesale decline, while Central and South America saw net sales fall 8.6% (11% at constant exchange rates).

The Asia Pacific registered a decline of 19.3% (15.5% at constant exchange rates) in net sales year-on-year, with weak performances in Greater China and South Korea, while the rest of the region was positive. Meanwhile, the Japanese market fell by 15.7% (4.4% at constant exchange rates).

CEO Marco Gobbetti said: “Over the quarter, our performance was impacted by continued volatility in the Chinese market, as well as a persisting weakness in wholesale and travel retail, further compounded by an unfavourable comparison.

“As the wider sector continues to normalise, we are encouraged by the exit rates we are seeing in our DTC performance – most notably in Europe, U.S. and Japan – as we turn to further drive our top line performance through an increased focus on both customer engagement and communication activities around our refreshed DTC channels.”