Salvatore Ferragamo returns to profit and benefits from the luxury boom in 2021

The Italian luxury brand Ferragamo is seeing its annual results increase and benefit from the renewed interest of consumers in luxury.


The Italian luxury group Salvatore Ferragamo benefited from the reopening of the global economy with sales driven by Asia-Pacific, the group’s largest market (+16.9% at constant exchange rates). The rebound in North America was impressive : +82.6% at constant exchange rates.


Net income was 81 million euros, compared with a loss of 72 million in 2020, and current operating income was 143 million euros, compared with a loss of 63 million euros a year earlier. However, the group did not wish to disclose any targets due to the ongoing pandemic and the war in Ukraine. It specified that its direct exposure to Russia represented less than 1% of its sales.


On the design side, since the departure of British designer Paul Andrew last May, the leather goods manufacturer has not found a replacement. As such, the new general manager, the very experienced Marco Gobbetti, said he was looking for “energy and novelty“.





Featured photo : © Getty Images


Hélène Cougot
Hélène Cougot
Passionate about art and fashion, Hélène went to a fashion design school: the Atelier Chardon-Savard. She then completed her training with an MBA in Marketing at ISG. She has written for the magazine Do it in Paris and specializes in writing articles about luxury, art and fashion for Luxus +.

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