Ferragamo branches into smaller cities - leatherbiz: Leading news site Leatherbiz

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Ferragamo branches into smaller cities

27/02/2014
Luxury footwear brand Salvatore Ferragamo is opening stores in "less well-known" cities such as Surabaya in Indonesia, Yantai in China and Cartagena in Colombia this year as part of a plan to boost sales in new markets.

Speaking at Milan Fashion Week, its CEO Michele Norsa said in Europe and the US the investment is going towards renovation or relocation of stores.

"There are still elements of structural growth in China which has kept up in the second and third tier cities, despite having slowed in big capitals like Shanghai and Beijing," he said when asked about sales in China.

Asia is the most important market for the brand, accounting for over a third of sales. Annual revenue grew 9% in 2013 and 17% in 2012.





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