Italy’s Salvatore Ferragamo’s revenue rises 20.3% in H1FY22

“We are pleased with the continued growth of revenues and profitability in the second quarter, despite the enduring impact of the pandemic in China. All other geographies have shown positive performances. We made excellent progress on our strategic priorities and will accelerate our investment in the second half of the year, as planned, to build strength in platforms and regions to support our growth agenda, whilst remaining mindful of the more volatile and challenging macroeconomic backdrop. Our recently announced partnership with Farfetch provides us with a strong platform of technical capabilities and target audience to fuel our digital growth ambition,” Marco Gobbetti, chief executive officer and general manager of Salvatore Ferragamo S.p.A, said.

In the first half of fiscal 2022, the Salvatore Ferragamo Group has reported total revenues of €630 million, up by 20.3 per cent at current exchange rates (+17.0 per cent at constant exchange rates), as compared to €524 million recorded in the first half of 2021. The company recorded net profit of €62 million in the first half of fiscal 2022.

In the first half of 2022, the retail distribution channel posted consolidated net sales up by 16.5 per cent (+9.4 per cent at constant exchange rates). The wholesale channel registered an increase in net sales rise of 40.9 per cent. The gross profit increased by 25.4 per cent in the first half of fiscal 2022, the company said in a press release.

Fibre2Fashion News Desk (RR)