Companies

Ferragamo reports first-quarter sales drop

May 21, 2026 Italy

The Italy-based luxury group reported a slight decline in revenue in the first quarter of 2026. Growth in its direct-to-consumer channel helped offset ongoing weakness in wholesale amid a challenging global environment

“In a geopolitical and economic environment that remained challenging, the Group’s DTC business continued to grow at constant exchange rates, confirming the effectiveness of the strategic actions implemented since the second half of last year”, said the company in a statement.

In the first quarter of the 2026 financial year, Ferragamo recorded a revenue of 209 million euros, reflecting a 1.2% decrease on a constant exchange rate basis and a 5.5% decrease on a current exchange rate basis compared to the same period the previous year.

The company emphasised the positive performance of the DTC channel during the first quarter, which generated net sales of 161 million euros, representing an increase of 5.5% at constant exchange rates and a decrease of 1.9% at current exchange rates year-on-year.

“All regions, excluding Japan, posted growth at constant exchange rates in DTC, led by the double-digit result in North and Latin America. DTC in EMEA was supported by local demand and in Asia Pacific confirmed the positive trajectory recorded in Q4 2025”.

Meanwhile, the wholesale channel continues to impact Ferragamo’s performance negatively, although this reflects the decision to focus on direct-to-consumer (DTC) sales and key accounts. As a result, the wholesale channel generated net sales of 42 million euros in the first quarter, which is a 19.0% decrease at constant exchange rates and a 21.8% decrease at current exchange rates compared to the same period in 2025.

“Despite the persistent global instability, exacerbated by the Middle East conflict and its potential short to medium-term consequences, Ferragamo remains focused on executing its strategic plan, leveraging its brand heritage and strengths to drive desirability, refining product mix and ensuring consistency of messaging across all channels”, concluded the company.

Image Credits: timessquare.com.hk

Italy Companies Ferragamo Luxury Quarter Results Results