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The Italian luxury brand showed dynamism last year. And this, despite an Asian market plagued by the covid pandemic in China, and thanks to the nice rebound in Europe and the United States.
Marco Gobetti is finishing his first year at Salvatore Ferragamo well. According to provisional accounts, the house recorded a 10.2% increase in sales to 1.25 billion euros in 2022. The former CEO of Celine, Givenchy and Burberry had taken over the reins of the Italian luxury house in early 2022.
“2022 was another year of revenue growth” in a “complex and volatile macroeconomic environment,” he commented. The rebound of the covid pandemic in China did cause a decline in sales there in the fourth quarter. But Marco Gobetti mentioned the “very encouraging” return of customers, after the lifting of health restrictions in December.
Double-digit growth outside Asia
In more detail, sales in the Asia-Pacific region, weighed down mainly by the Chinese market, fell by 4.6% to 417.6 million euros in 2022. Conversely, sales in the Europe-Middle East-Africa zone jumped by 24.7%. North America and Central and South America also posted double-digit growth, up 22.3% and 29.7% respectively.
Retail sales rose by 11.3% to 923.5 million euros.
Finally, on the product side, shoes, the House’s DNA, accounted for 44.8% of sales and leather goods for 41.7%.
But Marco Gobetti is not resting on his laurels. Last May, he presented a new strategy to achieve “a medium and long-term increase in revenue, thanks to the growing participation of new and young consumers“. Communication and marketing expenses will be doubled in 2023.
Read also >Tod’s exceeded its pre-covid level in 2022
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The Italian luxury brand showed dynamism last year. And this, despite an Asian market plagued by the covid pandemic in China, and thanks to the nice rebound in Europe and the United States.
Marco Gobetti is finishing his first year at Salvatore Ferragamo well. According to provisional accounts, the house recorded a 10.2% increase in sales to 1.25 billion euros in 2022. The former CEO of Celine, Givenchy and Burberry had taken over the reins of the Italian luxury house in early 2022.
“2022 was another year of revenue growth” in a “complex and volatile macroeconomic environment,” he commented. The rebound of the covid pandemic in China did cause a decline in sales there in the fourth quarter. But Marco Gobetti mentioned the “very encouraging” return of customers, after the lifting of health restrictions in December.
Double-digit growth outside Asia
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The Italian luxury brand showed dynamism last year. And this, despite an Asian market plagued by the covid pandemic in China, and thanks to the nice rebound in Europe and the United States.
Marco Gobetti is finishing his first year at Salvatore Ferragamo well. According to provisional accounts, the house recorded a 10.2% increase in sales to 1.25 billion euros in 2022. The former CEO of Celine, Givenchy and Burberry had taken over the reins of the Italian luxury house in early 2022.
“2022 was another year of revenue growth” in a “complex and volatile macroeconomic environment,” he commented. The rebound of the covid pandemic in China did cause a decline in sales there in the fourth quarter. But Marco Gobetti mentioned the “very encouraging” return of customers, after the lifting of health restrictions in December.
Double-digit growth outside Asia
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