World Footwear

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Ferragamo’s revenue up by 6%

Mar 30, 2015 Italy
Ferragamo’s revenue up by 6%
Salvatore Ferragamo a key player in the luxury sector, announced the non-audited results for financial year 2014
As of the 31st of December 2014, the Salvatore Ferragamo group has posted total revenue of 1 332 million euros, a 5.9% increase at current exchange rates (+9.3% in quarter four) over the 1 258 million euros posted in the previous financial year. Revenue growth at constant exchange rates reached 6.5% (+7.7% in the last quarter of the financial year).

Asia Pacific was confirmed as the group's main market in terms of revenue, representing 37% of total revenue in financial year 2014, up by over 5% (+7% in quarter four), despite the tensions registered in Hong Kong in the last part of the year. A major contribution was given by the retail channel in China, recording a 18% growth compared to the same period in 2013.

Europe registered an 9% increase in revenue, compared to the same period in 2013 (+14% in quarter four), even if penalized by the ongoing geopolitical tensions, which negatively impacted the global tourist flows and by the enduring difficult economic situation. North America shown revenue up by 5% in financial year 2014 (+2% in the last quarter of 2014 which compares to +11% in quarter four of the previous year). The Japanese market showed an increase in revenue of 4% in financial year 2014 (+6% in the quarter), registering a 4% decrease at current exchange rates, resulting from the deterioration of the Japanese currency. Revenue in Central and South America showed solid results with an increase of 14% in financial year 2014  (+17% in quarter four in 2014).



As of the 31st December 2014, the Salvatore Ferragamo group's retail network included 373 Directly Operated Stores (DOS), while the Wholesale and Travel Retail channel included 270 Third Party Operated Stores (TPOS).

In 2014 the retail distribution channel posted consolidated revenue up by about 5% (+6% in quarter four 2014) compared to the same period in 2013, while the wholesale channel delivered in a growth rate of 10% (+12% in quarter four 2014), mainly due to a strong performance of the Travel Retail channel.

Among the product categories, it is especially worth highlighting the increase of handbags and leather accessories (+13%) and of footwear (+5%), which together represent 78% of the group's total turnover. The performance of fragrances, thanks to the expected acceleration in quarter four 2014 (+23%), reached an increase of over 5% financial year 2014.

The Ferragamo group's net profit reached 157 million euros, as compared to 150 million euros in the previous year, up by 4%, but increasing 13% excluding the capital gain deriving from the disposal of the participation in ZeFer.

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