xchange rates and by 11 percent at constant exchange rates versus financial year 2012. All geographical areas, with the sole exception of Japan, registered in financial year 2013 a double-digit growth in turnover. The Asia Pacific area is confirmed as the group’s top market in terms of revenues, representing about 37 percent of the total in financial year 2013. A major contribution was given by the retail channel in China, which recorded a 20 percent growth compared to the same period in 2012.

Europe posted an increase in revenues of 13 percent, compared to the same period in 
2012. Double-digit revenue growth was recorded also in North America, with an increase of over 12 percent in financial year 2013. The Japanese market showed an increase in revenues of one percent in financial year 2013. Revenues in Central and South America showed an increase of 15 percent. Salvatore Ferragamo is based in Italy. The group is active in the creation, production and sale of shoes, leather goods, clothing, silk products and other accessories, as well as women’s and men’s perfumes. The group’s product range also includes eyewear and