Salvatore Ferragamo posts ‘excellent’ travel retail results

By Charlotte Turner |

Salvatore Ferragamo S.p.A, parent company of the Salvatore Ferragamo Group, records preliminary consolidated revenues for the fiscal year 2013, of €1,258m (US$1,703m) or €1.2bn +9% at current exchange rates and by 11% at constant exchange rates, YOY.


All geographical areas, with the sole exception of Japan, registered double-digit growth in turnover, both at current and constant exchange rates, in FY 2013.


In FY2013 the retail distribution channel posted an increase in consolidated revenues of 9% (+5%in 4Q 2013) compared to the same period in 2012. The wholesale and travel retail channel delivered an excellent performance in FY2013 growing 14% (+19% in 4Q2013).


As of 31 December 2013, the Salvatore Ferragamo Group’s retail network consists of 360 directly operated stores(DOS), while the wholesale and travel retail channel includes 264 third party operated stores (TPOS), as well as presence in major department stores and high-end multi-brand specialty stores.



Asia Pacific was the Group’s top performing market in terms of revenues, representing about 37% of the total revenues recorded for FY2013, up by 10% (+5%in 4Q2013). China was a major contributor to growth, recording a 20% increase in revenue compared to the same period in 2012.


Europe posted an increase in revenue of 13%, compared to the same period in 2012 (+18% in 4Q2013). Double-digit revenue growth was recorded also in North America, with an increase of over 12% in FY2013 (+11%in 4Q2013).


The most disappointing performance came from the Japanese market, which recorded an increase in revenue of just 1% in FY 2013 (-2% in 4Q 2013), registering a 13% decrease at current exchange rates due to the ‘meaningful deterioration of the Japanese currency’.


All product categories, with the sole exception of Ready to Wear, delivered an increase in revenues in FY 2013, both at current and constant exchange rates.


It is especially worth highlighting the increase of footwear (+8%), handbags and leather accessories (+18%), which together represent over 76% of Group total turnover, and fragrances(+14%).


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