The Salvatore Ferragamo Group, one of the global leaders in the luxury sector, released the Group’s Preliminary Consolidated Revenues for Fiscal Year 2019, which amount to 1,377 million Euros up 2.3% at current exchange rates and 1.3% at constant exchange rates vs. FY 2018.
As of 31 December 2019 the Salvatore Ferragamo Group reported Total Revenues of 1,377 million Euros up by 2.3% at current exchange rates (+1.3% at constant exchange rates) vs. the 1,347 million Euros recorded in FY 2018. Revenues in 4Q 2019 registered a 2.1% increase at current exchange rates and remained stable (-0.1%) at constant exchange rates.
As of 31 December 2019, the Group’s Retail network counted on a total of 654 points of sales, including 393 Directly Operated Stores (DOS) and 261 Third Party Operated Stores (TPOS) in the Wholesale and Travel Retail channel, as well as the presence in Department Stores and high-level multi-brand Specialty Stores.
In FY 2019 the Retail distribution channel posted consolidated Revenues up 2.4% (+1.1% at constant exchange rates), with an increase of 1.1% at constant exchange rates and perimeter (like-for-like) vs. FY 2018, despite lower Revenues in the secondary channel.
In 4Q 2019 Retail Revenues increased 2.0% (-1.0% at constant exchange rates), with a +0.2% like- for-like performance.
The Wholesale channel registered an increase in Revenues of 3.1% (+3.0% at constant exchange rates) vs. FY 2018, mainly thanks to the good performance of the Travel Retail channel.
The Asia Pacific area is confirmed as the Group’s top market in terms of Revenues, increasing by 1.1% (+0.7% at constant exchange rates) vs. FY 2018.
Specifically, in FY 2019, the retail channel in China recorded a solid Revenue growth of 13.8% (+12.6% at constant exchange rates).
The 4Q 2019 performance in the area continued to be significantly negatively impacted by the difficult geopolitical situation occurring in Hong Kong were retail sales down over 50% vs. 4Q 2018.
EMEA posted, in FY 2019, an increase in Revenues of 5.3% (+5.1% at constant exchange rates), with a further acceleration in the 4Q (+9.4% at constant exchange rates) mainly thanks to the double-digit performance of the retail channel.
North America recorded a Revenue increase of 0.7% (-0.6% at constant exchange rates) in FY 2019, with a positive performance in 4Q 2019 (+2.2% at constant exchange rates).
The Japanese market registered a 0.5% decrease in Revenues (-2.8% at constant exchange rates) in FY 2019, penalized in the 4Q (-9.5% at constant exchange rates2) by the Consumption tax hike occurred in October 2019.
Revenues in the Central and South America in FY 2019 were up 7.1%, (+4.6% at constant exchange rates).
Salvatore Ferragamo S.p.A. is the parent Company of the Salvatore Ferragamo Group, one of the world’s leaders in the luxury industry and whose origins date back to 1927.
The Group is active in the creation, production and sale of shoes, leather goods, apparel, silk products and other accessories, along with women’s and men’s fragrances. The Group’s product offer also includes eyewear and watches, manufactured by licensees.
The uniqueness and exclusivity of our creations, along with the perfect blend of style, creativity and innovation enriched by the quality and superior craftsmanship of the ‘Made in Italy’ tradition, have always been the hallmarks of the Group’s products.
With approximately 4,000 employees and a network of 654 mono-brand stores as of 31 December 2019, the Ferragamo Group operates in Italy and worldwide through companies that allow it to be a leader in the European, American and Asian markets.