Ferragamo Posts 9% Sales Increase for 2013

ferragamoMilan— Salvatore Ferragamo SpA said Thursday its 2013 sales rose 9% compared with the previous year as all categories except ready-to-wear, posted increases.

For the year ended Dec. 31, Ferragamo posted total revenues of 1.258 billion euros (about $1.7 billion). Revenue increases at constant exchange rates were +11%.

All Categories But Apparel Show Increases

By region, Asia-Pacific, which accounts for 37% of total volume, reported a 10% increase boosted by a 20% increase at constant rates, in China alone.

Sales in Europe rose 13% and there was a 12% increase in North America. Central and South America had a 15% increase.

In Japan, where Ferragamo said it felt the affects of “unfavorable performance” of the yen, sales fell 13% at current exchange rates (up 1% at constant rates).

The Italian luxury house said that sales in Japan were affected by the unfavorable performance of the yen, which led to a 13% sales decrease at current exchange rates compared with the previous year. At constant rates, sales in the area rose 1% compared with a year earlier.

Sales at the company’s directly owned stores rose 9% while sales at wholesale and travel accounts was up 14%.

Sales of handbags and leather accessories grew 18% while footwear was up 8%–the two categories account for 76% of Ferragamo’s total volume. Fragrance was up 14%.

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Jeff Prine

Jeff Prine, Editor at Large, Accessories Magazine
Jeff returns as a regular contributor to Accessories magazine. Initially Jeff worked as senior editor at Accessories more than 20 years ago and his love of the industry has followed him until present. Since his tenure here, Jeff has continued to report jewelry, watch and other luxury goods trends as executive editor at Modern Jeweler magazine, fashion director at Lustre, and as contributor on products and trends for consumer and trade publications and websites. In addition to his editorial experience, Jeff also served as an adjunct instructor for accessories merchandising at Fashion Institute of Technology. jeffp@busjour.com