Italian fashion house Salvatore Ferragamo has reported a revenue of €1.13 billion in its preliminary financial report for the fiscal year 2021. The company’s success has been attributed to the growth of online sales.
Excluding perfumes, Salvatore Ferragamo’s sales reached €1.13 billion in 2021, marking a 29.6% increase in current exchange rates compared to the previous year. The brand’s annual results were driven by strong performances in the shoes and leather goods categories, which accounted for 43% and 44% of sales respectively. Additionally, the company experienced significant growth in its online channel, with e-commerce sales increasing by 41.3% compared to 2020. In-store revenue also saw a notable increase of 30.2%, while sales through multi-brand retailers rose by 28.6%.
While all geographical regions saw double-digit growth, the Asia-Pacific region remained Salvatore Ferragamo’s top market in terms of sales, with a 17.3% growth rate. China played a crucial role in the brand’s success, with a 9.4% increase in revenue and a remarkable 36% growth in luxury product sales. South Korea and Japan also showcased positive results, with revenue increases of 13.6% and 3.7% respectively. North America, on the other hand, recorded the highest growth rate between 2020 and 2021, with a revenue increase of 71.5%. Europe, however, experienced slower growth of 21.2% due to store closures and a decline in tourist flows.
Looking ahead, Salvatore Ferragamo is anticipating a significant year in 2022 with the appointment of Marco Gobbetti as its new leader. Gobbetti, the former CEO of British brand Burberry, is expected to bring fresh perspectives and strategic direction to the Italian fashion house.
Useful links:
– Official Salvatore Ferragamo Website
– Article: Marco Gobbetti Appointed CEO of Salvatore Ferragamo
