In the first half of the 2025 financial year, the company’s total revenue was 474 million euros, a decrease of 9.4% (or 7.1% at constant exchange rates), as compared to the same period last year. Sales decreased further during the second quarter, falling by 14.6%, or 11.8% at constant rates, to 253 million euros.

“The result was impacted in particular by the deteriorating consumer environment, the challenging wholesale scenario and the persistent weakness of the Asia Pacific area”, highlighted Ferragamo in a statement.

On a comparable basis to the first half of 2024, the group’s wholesale net sales in the first half of the current year declined by 17.9%, or 14.0% at constant exchange rates. Wholesale sales in the second quarter declined by a sharp 34.3%, or 29.6% at constant exchange rates, as compared to the same quarter of 2024, “mainly due to the challenging wholesale environment”.

In the first half of 2025, Ferragamo’s direct-to-consumer (DTC) net sales fell by 6.5%, or 5.0% at constant exchange rates, as compared to the same period last year. The company noted that positive results in Europe and Latin America only partly offset weaker performances in the Asia-Pacific region and Japan at constant exchange rates.

In the second quarter in particular, net sales fell by 5.4% year-on-year, reflecting steeper declines in Europe and Japan, which were driven by lower tourist spending. Meanwhile, trends improved in North America, Latin America, and the Asia-Pacific region.

In the first half of the year, Ferragamo’s EBITDA fell to 73 million euros, down from 117 million euros in the same period of 2024. Excluding an impairment charge of 41 million euros, EBIT stood at negative 3 million euros, on a comparable basis to a positive 28 million euros in the first half of 2024. Including the impairment charge, operating profit (EBIT) was negative 44 million euros.

At the end of the 30^th of June, the group posted a net loss of 58 million euros, as compared to 6 million euros in profit in the first half of 2024.

Action Plan

“Since the second quarter - characterized by a very challenging and deteriorated consumer environment, particularly in Asia Pacific, and a very negative wholesale scenario - we have undertaken a comprehensive diagnostic of our brand positioning, with the objective to ensure full clarity and alignment across style, product, communication and distribution channels”, reads the statement of Ferragamo.

The luxury group plans to enhance its product range by emphasising familiar aesthetics and heritage features, particularly in its core leather goods.

Ferragamo is also revamping its storytelling approach, adopting a global strategy adapted for local markets. This strategy is supported by events, collaborations, and richer digital content, and has improved marketing efficiency.

Finally, store network optimisation and renovations are ongoing, complemented by stronger visual merchandising and a growing online presence. In wholesale, the focus is shifting to key accounts.

“We have already started implementing tangible changes and are confident that these efforts will become increasingly effective by the end of this year and then even more in 2026”, added Ferragamo.

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