Ferragamo : sales up but profit down in 2022

Marco Gobbetti arrived at the beginning of 2022 at the helm of Salvatore Ferragamo, and his first financial year was not very successful. But he is confident for 2023, as he announced an ambitious plan to relaunch the company.

A lower profit, but a higher turnover.

Salvatore Ferragamo unveiled on Thursday a mixed performance for 2022.

The Italian luxury house’s net profit fell by 11.5% to 69.6 million euros when the consensus of Factset Estimates analysts was expecting a gain of 71.3 million euros. These disappointing results are linked to poor sales in its number one market: Asia-Pacific. They fell by 4.7% to €417.6 million, mainly due to the rebound of the Covid-19 pandemic in China.

To continue reading this article, create a free account or log in.

Create your free account

I create my account

Don’t miss out on the latest luxury business news.

Read also > Ferragamo sees sales up 10% in 2022

Featured photo : © Ferragamo
Picture of Sophie Michentef
Sophie Michentef
Sophie Michentef has worked for more than 30 years in the professional press. For fifteen years, she managed the French and international editorial staff of the Journal du Textile. She now puts her press, textile, fashion, and luxury expertise at the service of newspapers, professional organizations, and companies.

Subscribe to our Newsletter

Sign up now to receive sneak previews of our programs and articles!

Launch offer:

Your participation in the Camille Fournet Masterclass reserved for annual subscriber !

Luxus Plus Newsletter