Asharq Al-awsat English Middle-east and International News and Opinion from Asharq Al-awsat Newspaper

Ferragamo's Sales Grow 31.4% in 2021

Ferragamo's Sales Grow 31.4% in 2021

Thursday, 27 January, 2022 - 17:15
Italian luxury fashion house Salvatore Ferragamo's logo is seen at a store, as the spread of the coronavirus disease (COVID-19) continues, in Zurich, Switzerland January 25, 2021. REUTERS/Arnd Wiegmann/File Photo/File Photo

Sales at Italian luxury group Salvatore Ferragamo rose by 31.4% last year, in line with market expectations, although they are still far below pre-pandemic levels.

The leather goods maker said on Tuesday 2021 revenues totaled 1.136 billion euros ($1.27 billion), compared with a Refintiv consensus of 1.135 billion euros.

In the fourth quarter sales grew by 23.5% at constant exchange rates, thanks to the strong contribution of North America and of the digital channel.

Most luxury groups have already reached, if not exceeded, pre-COVID levels, showing the challenge facing Ferragamo's new Chief Executive Marco Gobbetti, who started at the Florentine group this month after 4-1/2 years at the helm of Burberry.

Editor Picks