Salvatore Ferragamo SpA, an Italian luxurious trend 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 change charges and down 10.5 per cent YoY at present change 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 change charges) in comparison with €1,119.5 million in 2023, Salvatore Ferragamo stated 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.
Internet 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 complete income, down by 5.8 per cent (3.8 per cent at fixed change charges) from the earlier 12 months. Wholesale income noticed a extra important drop of 21.2 per cent (21.3 per cent at fixed change 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 web gross sales, however declined by 9.9 per cent (8.7 per cent at fixed change charges) in comparison with 2023. Leather-based items, accounting for 40.9 per cent of web gross sales at €412.8 million, noticed an 8.5 per cent drop (7.1 per cent at fixed change charges). Attire gross sales fell probably the most, reducing by 17.7 per cent (16.2 per cent at fixed change 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 web gross sales, however declined by 9.6 per cent (8.7 per cent at fixed change charges) year-on-year.
Area-wise, complete web gross sales in Europe, Center East, and Africa (EMEA) decreased by 7.8 per cent YoY at fixed change charges (-8.9 per cent at present change charges). In North America’s web gross sales went down by 2.6 per cent at fixed change charges and at present change charges. Internet Gross sales in Asia Pacific decreased 18.9 per cent at fixed change charges (-19.7 per cent at present change charges vs FY 2023. Central and South America’s gross sales elevated by 1.0 per cent at fixed change charges (-3.0 per cent at present change charges). Japan noticed a rise of three.2 per cent at fixed change charges (-4.3 per cent at present change charges).
Fourth quarter (This fall) financials
As per the preliminary studies, 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 change charges and down 6.7 per cent at present change charges vs This fall 2023.
Area-wise, EMEA posted complete web gross sales elevated by 4.5 per cent YoY at fixed change charges (-0.4 per cent at present change charges) in This fall 2024. North America recorded a rise in complete web gross sales of 6.3 per cent at fixed change rates2 (+5.4 per cent at present change charges).
In the meantime, Central and South America’s gross sales went up by 10.7 per cent at fixed change charges (+7.3 per cent at present change charges). Japan registered a rise in complete web gross sales of 1.2 per cent at fixed change charges (-1.2 per cent at present change charges). The Asia Pacific area registered a lower in complete web gross sales of 24.8 per cent at fixed change charges (-24.0 per cent at present change 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,” stated Marco Gobbetti, chief govt officer (CEO) and basic 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.”
