Salvatore Ferragamo Hong Kong sales still weak
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Despite business still being weak in Hong Kong, Asia Pacific was again been the top market in revenue terms last year for Italian design label Salvatore Ferragamo.
Preliminary figures show the group’s consolidated revenues for its latest fiscal year reached €1438 million (US$1.5 billion), up by 1 per cent at current exchange rates and down by 2 per cent at constant exchange rates from the previous 12 months.
Asia Pacific contributed 36 per cent of total revenue for the year, up by 1 per cent. Growth was more than 4 per cent for the fourth quarter. The positive performance was achieved despite lacklustre sales for Salvatore Ferragamo Hong Kong.
In Japan, the brand had stable revenues last year, with a 3 per cent rise in the fourth quarter.
Questions & Answers
Q.How did Salvatore Ferragamo's overall revenues perform in the last fiscal year?
How did Salvatore Ferragamo's overall revenues perform in the last fiscal year?
The group's consolidated revenues reached €1438 million, an increase of 1 per cent at current exchange rates. However, this represented a 2 per cent decrease when measured at constant exchange rates compared to the previous year.
Q.Which region was Salvatore Ferragamo's strongest market last year and what was its contribution?
Which region was Salvatore Ferragamo's strongest market last year and what was its contribution?
Asia Pacific was the strongest market in revenue terms last year for Salvatore Ferragamo. This region contributed 36 per cent of the total revenue for the year, showing an increase of 1 per cent.
Q.Did Salvatore Ferragamo experience any growth in the Asia Pacific region, despite the Hong Kong sales issues?
Did Salvatore Ferragamo experience any growth in the Asia Pacific region, despite the Hong Kong sales issues?
Yes, despite the weak sales in Hong Kong, the Asia Pacific region showed growth. Overall revenue contribution from this region was up by 1 per cent, with growth exceeding 4 per cent in the fourth quarter.
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