World Footwear

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Ferragamo with another year of growth

Mar 29, 2016 Italy
Ferragamo with another year of growth
Positive performance of one of the global leaders in the luxury sector was spread across revenue and net profit
As at the 31st of December 2015 the Salvatore Ferragamo Group reported total revenue of 1 430 million euros, up by 7.4% at current exchange rates (1 332 million euros recorded in the previous financial year). Revenue growth at constant exchange rates has been 1.4%.

The Asia Pacific region was confirmed as the group's top market representing 36% of total revenue in the financial year, up by 4%. During the fourth quarter growth was over 8%, despite the hard comparison base (+11% in the last quarter of 2014) and the deterioration of the business in Hong Kong. The retail channel in China recorded a 10% growth during the year.

Europe posted an increase in revenues of 7% during fiscal 2015. In the fourth quarter, despite the dramatic events occurred in Paris, growth reached 9% (+14% in 4Q 2014 versus 4Q 2013).

North America, penalized by the strong currency and the decrease of touristic flows in the United States, registered an increase in revenues of 9% in fiscal 2015 (-2% at constant exchange rates) and 8% in the fourth quarter (-3% at constant exchange rates).

The Japanese market showed an increase in revenue of 14% in financial 2015 (+18% in the fourth quarter), also thanks to the significant travel flow from China. At constant exchange rates the growth was 13% in the quarter and 15% in the entire year.

Revenue in Central and South America showed solid results with an increase of 12% in the year (+4% in 4Q 2015), mainly thanks to the good performance in Mexico. At constant exchange rates the growth was 9% in fiscal 2015 and 5% in the fourth quarter.

As at the 31st of December 2015 the Salvatore Ferragamo group's retail network included 391 Directly Operated Stores (DOS), while the Wholesale and Travel Retail channel was made of 271 Third Party Operated Stores (TPOS). The brand’s products are also present in major Department Stores and high-end multi-brand Specialty Stores.

In 2015 the retail distribution channel posted consolidated revenue up by 7%. At constant exchange rates the growth was 1%. The wholesale channel delivered growth over 7%, reflecting the good performance of the Travel Retail channel.

Among the product categories it is especially worth underlining the increase of handbags and leather accessories that posted a growth of 12% in fiscal 2015 and 14% in the fourth quarter.

The group's net profit reached 173 million euros, up by 10%, as compared to 157 million euros in FY 2014.

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