The Q3, FY25 revenues of Italian luxury player Salvatore Ferragamo SpA declined by 9.6 per cent Y-o-Y to €221 million or about $240 million, The company’s year-to-date revenue declined by 11.9 per centY-o-Y to €744 million.
So far this year, Ferragamo reported revenue declines in every quarter. The company net profit in H1, FY24 by 73.2 per cent.In Q3, sales from the company’s wholesale segment contracted by 14.1 per centY-o-Y as demand weakened, particularly in the US market.
The company’s DTC net sales during the third quarter contracted by 7.5 per cent Y-o-Y despite a positive performance in Europe, Japan and Latin America.
Net sales in Asia Pacific declined by 21 per centY-o-Y as the region faced a low consumer confidence. Marco Gobbetti, General Manager and CEO says, the Asia Pacific region represented the biggest impact on the company’s overall sales performance.
Ferragamo’s net sales in the combined region of Central and South America fell by 8.2 per cent while sales in North America lowered by 7.4 per cent. The company’s net sales in the EMEA region net sales remained flat at 0.6 per cent.
However, driven by a double digit growth in DTC in the region, Ferragomo’s sales in Japan grew by 3.4 per cent.
Mirroring a larger trend in luxury fashion Ferragamo’s financial declines accompanied similar results reported by other brands including Kering, Burberry and Lanvin. However, brands like Prada and Hermes reported revenue rises during the quarter.
