Ferragamo captures new European customers but Asia falters
Italian leathergoods brand Salvatore Ferragamo has reported a 7% fall in third quarter revenues to €221 million.
Ferragamo CEO Marco Gobbetti said the “challenging macroeconomic and consumer environment” had affected sales, particularly in Asia-Pacific, where there had been lower footfall in stores.
He said: “We pursue our work on the enrichment of the offer, together with marketing and retail actions, to maximise the potential of the brand, through increasing engagement of new audiences with key products, and continuing the distinctive narrative and elevated in-store and online experience, while maintaining a strong operational discipline.”
He said these efforts had paid off in Europe, Japan and Latin America, in particular in sales of new styles of handbags and ladies’ shoes.
