Salvatore Ferragamo SpA, an Italian luxurious vogue home, has reported preliminary consolidated revenues of €1,035 million (~$1,070 million) within the full 12 months (FY) 2024 ended December 31, 2024, down 8.2 per cent year-over-year (YoY) at fixed trade charges and down 10.5 per cent YoY at present trade charges.
The web gross sales of the corporate stood at €1,009.3 million (~$1,041 million) in 2024, marking a 9.8 per cent decline (8.5 per cent at fixed trade charges) in comparison with €1,119.5 million in 2023, Salvatore Ferragamo mentioned in a press launch.
Salvatore Ferragamo has reported revenues of €1,035 million (~$1,070 million) in FY 2024, down 10.5 per cent YoY.
Web gross sales of the corporate fell by 9.8 per cent to €1,009.3 million (~$1,041 million).
DTC gross sales declined 5.8 per cent, whereas wholesale dropped 21.2 per cent.
Footwear and leather-based items led gross sales.
This fall revenues fell 6.7 per cent to €291 million (~$301.65 million).
Distribution channel-wise, Direct-to-consumer (DTC) gross sales accounted for €776.7 million, representing 75.0 per cent of whole income, down by 5.8 per cent (3.8 per cent at fixed trade charges) from the earlier 12 months. Wholesale income noticed a extra important drop of 21.2 per cent (21.3 per cent at fixed trade charges), falling to €232.6 million from €295.3 million in 2023.
Section-wise, Footwear remained the most important phase, contributing €461.0 million, or 45.7 per cent of internet gross sales, however declined by 9.9 per cent (8.7 per cent at fixed trade charges) in comparison with 2023. Leather-based items, accounting for 40.9 per cent of internet gross sales at €412.8 million, noticed an 8.5 per cent drop (7.1 per cent at fixed trade charges). Attire gross sales fell probably the most, lowering by 17.7 per cent (16.2 per cent at fixed trade charges) to €60.5 million from €73.5 million. The Silk & different class generated €75.0 million, sustaining its 7.4 per cent share of internet gross sales, however declined by 9.6 per cent (8.7 per cent at fixed trade charges) year-on-year.
Area-wise, whole internet gross sales in Europe, Center East, and Africa (EMEA) decreased by 7.8 per cent YoY at fixed trade charges (-8.9 per cent at present trade charges). In North America’s internet gross sales went down by 2.6 per cent at fixed trade charges and at present trade charges. Web Gross sales in Asia Pacific decreased 18.9 per cent at fixed trade charges (-19.7 per cent at present trade charges vs FY 2023. Central and South America’s gross sales elevated by 1.0 per cent at fixed trade charges (-3.0 per cent at present trade charges). Japan noticed a rise of three.2 per cent at fixed trade charges (-4.3 per cent at present trade charges).
Fourth quarter (This fall) financials
As per the preliminary experiences, the corporate generated consolidated revenues of €291 million (~$301.65 million) within the fourth quarter (This fall) of 2024, down 4.0 per cent at fixed trade charges and down 6.7 per cent at present trade charges vs This fall 2023.
Area-wise, EMEA posted whole internet gross sales elevated by 4.5 per cent YoY at fixed trade charges (-0.4 per cent at present trade charges) in This fall 2024. North America recorded a rise in whole internet gross sales of 6.3 per cent at fixed trade rates2 (+5.4 per cent at present trade charges).
In the meantime, Central and South America’s gross sales went up by 10.7 per cent at fixed trade charges (+7.3 per cent at present trade charges). Japan registered a rise in whole internet gross sales of 1.2 per cent at fixed trade charges (-1.2 per cent at present trade charges). The Asia Pacific area registered a lower in whole internet gross sales of 24.8 per cent at fixed trade charges (-24.0 per cent at present trade charges).
“In 2024 we completed the roll-out of our new product offer, redesigning and enriching our proposal. In Q4 the positive result of the primary DTC channel was driven by the performance of handbags extending to shoes, in particular thanks to new successful icons, such as the Hug bag and the Zina ballet shoe. We also worked on maximising the awareness of the brand, driving desirability and engagement, through impactful communication initiatives, including ‘Three Days in Florence’ and ‘Holiday’ campaigns,” mentioned Marco Gobbetti, chief govt officer (CEO) and normal supervisor at Salvatore Ferragamo. “We are pleased with the foundations we have built and, whilst we remain conscious of the persisting complex market context, we are encouraged by the trends we identified at the end of the year. January shows an acceleration in our DTC channel’s growth, albeit supported by the different timing of the Chinese New Year and a favourable comparison base versus last year.”
