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Ferragamo confirms full year 2022 results

Mar 13, 2023 Italy
Ferragamo confirms full year 2022 results
The Italian-based luxury group recorded revenue growth of 10.2% in 2022 over the prior year, reaching 1.25 billion euros, with sales growing in all regions except for Asia Pacific
“In 2022 we defined our strategic framework and made excellent progress on the implementation of our priorities. We pursued the quality of sales and significantly increased investments, especially in marketing and communication, and are pleased with the results achieved. We are encouraged by the early results of the Spring-Summer'23 collection, launched in our stores in February, and by the success of our recent Fall-Winter'23 Fashion Show. Although the macroeconomic environment remains volatile and complex, we are excited by the potential of Ferragamo and will continue to invest behind our growth ambition”, commented Marco Gobbetti, Chief Executive Officer and General Manager of Ferragamo.

Full Year 2022 Results

In 2022, Ferragamo's consolidated revenue totalled 1.25 billion euros, increasing by 10.2% at current exchange rates and 5.7% at constant exchange rates, on a comparable basis to the previous year.

In this period, sales in the retail distribution channel grew by 11.3% (by 4.7% at constant exchange rates), while sales in the wholesale channel rose by 13.6% (by 6.3% at constant exchange rates), as compared to fiscal 2021.

The luxury group's net sales in the Asia Pacific region declined by 4.7% (by 10.6% at constant exchange rates) last year, mainly due to the resurgence of COVID-19 in the region, particularly in China, while in Japan they rose by 11.9% (by 18.9% at constant exchange rates), year-over-year.

In the EMEA region, Ferragamo recorded a net sales growth of 24.7% (24.6% at constant exchange rates) in 2022, as compared to the prior year. Net sales were also up in North America by 22.3% (8.8% at constant exchange rates) and in Central and South America by 29.7% (by 14.7% at constant exchange rates), on a comparable basis to fiscal 2021.

As of the 31st of December, the company's net profit totalled 69.6 million euros, as compared to a net profit of 78.6 million euros recorded last year.


Image Credits: designscene.net


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