Companies

Ferragamo posts 2025 revenue decline despite fourth-quarter DTC rebound

Jan 29, 2026 Italy

The Italy-based luxury group saw its revenue decline in 2025. However, direct-to-consumer sales accelerated in the fourth quarter as a result of strategic initiatives in place since the second quarter

Ferragamo reported a preliminary revenue of 977 million euros for 2025, reflecting decreases of 3.8% and 5.7% at constant and current exchange rates, respectively, compared to the previous year. Revenue totalled 282 million euros in the fourth quarter alone, representing a decrease of 2.0% at constant exchange rates and 3.2% at current exchange rates.

The group highlighted that direct-to-consumer sales accelerated in the fourth quarter, rising by 6.3% at constant exchange rates despite a tougher comparison base. There was growth across all regions, which was an improvement on the previous quarter.

“The execution of these strategic initiatives supported the positive DTC performance also in the fourth quarter of 2025, which accelerated sequentially despite a tougher comparison base, with all regions posting positive trends. The results benefitted from higher conversion rate and average ticket, improved cross-selling and a continued solid growth of the online business”, according to the company statement.

Since the second quarter of 2025, the company has been taking the necessary steps to ensure full alignment and coherence across design, product, communication and distribution channels, building on its strong heritage and creative capabilities.

Meanwhile, wholesale net sales decreased by 30.6% at constant exchange rates and 23.5% at current exchange rates in the fourth quarter, as compared to the same period in 2024. This reflects a strategic shift towards more controlled distribution and key accounts. For the full year, wholesale sales declined year-on-year by 17.1% and 17.5%, respectively, at constant and current exchange rates.

Geographical Areas

In the fourth quarter of 2025, total net sales in the EMEA region decreased by 10.9% at constant exchange rates and by 5.3% at current exchange rates, as compared to the same period in the previous year. Over the full year, the decrease was less pronounced at 6.5% and 4.4% respectively at constant and current exchange rates.

Ferragamo also saw its sales decline in the Asia Pacific region. In the fourth quarter alone, total net sales fell by 2.3% and 8.8% year-on-year at constant and current exchange rates, respectively. Over the full year, net sales decreased by 11.5% and 15.6% at constant and current exchange rates respectively, mainly affected by the wholesale business.

In Japan, net sales in the fourth quarter increased by 2.8% at constant exchange rates, but declined by 6.3% at current rates. In the full year, however, net sales decreased by 3.0% and 6.0% at constant and current exchange rates, respectively.

The group recorded a 2.0% increase in net sales at constant exchange rates in North America in the fourth quarter and 1.9% decrease at current exchange rates, on a comparable basis to the same quarter of 2024. For the full year, net sales increased by 3.1% at constant exchange rates and decreased by 0.9% at current exchange rates year-on-year.

Finally, in Central and South America, net sales in the fourth quarter increased by 5.1% and 1.1% at constant and current exchange rates respectively, compared to the same period in the previous year. For the full year, sales increased by 7.9% at constant exchange rates but decreased by 1.4% at current exchange rates due to negative wholesale performance.

Image Credits: fashiongonerogue.com

Italy Companies Ferragamo Luxury Quarter Results Results