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Salvatore Ferragamo boasts growth in Q1 results

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Italian luxury goods brand Savatore Ferragamo reported a 16 per cent rise in its first quarter core profit results.

The brand reported revenues of €327 million, a 10 per cent increase compared with the €299m achieved during the same period in 2014.

The revenue growth was led by Ferragamo’s handbags and leather accessories, which posted an increase of 16 per cent. All of the brand’s product categories had reported different growth figures this quarter, with the exception of fragrances, which saw an 11 per cent drop.

Meanwhile, the group reported €212m in profit, a 16 per cent rise over profits recorded during the first quarter of 2014.

The current exchange rates, with the decline of the euro and the strong turnover in the Asia market, especially China, were the two main drivers for Ferragamo’s positive quarterly results.

According to financial information released by the brand, revenues from the Asia Pacific region rose by 11 per cent, with a “significant” contribution coming from retailers in China, who recorded a revenue increase of 22 per cent during the first quarter of 2015.

Other key regional markets recorded lower revenues; Europe posted a two per cent increase, North America recorded a 16 per cent revenue increase and Japan recorded a five per cent revenue increase.

 

First published on Aficionado, sister publication of Luxurymena.

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