Ferragamo Posts 9% Sales Increase for 2013

In What's New, Industry News by Jeff Prine

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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