FY 2022 Group Preliminary Consolidated Revenue Figures
Salvatore Ferragamo Group Consolidated Revenues1 up 10.2% in FY 2022 (+5.7% at constant exchange rates2) vs. FY 2021
Marco Gobbetti, Chief Executive Officer and General Manager of Salvatore Ferragamo S.p.A commented:
“During 2022 we set our strategic framework and started making excellent progress on our priorities. Maximilian Davis debut fashion show generated a strong endorsement from trade, press and celebrities alike. We also finalized an important agreement with Farfetch, which strengthens significantly our digital capabilities and targets a new, young clientele.
Notwithstanding the beginning of our strategic refocusing, 2022 has also been another year of growth in revenues, in which we successfully pursued the quality of sales in our retail stores while also starting the optimization of our wholesale channel, amid a complex and volatile macroeconomic environment.
In particular, the fourth quarter was impacted by Covid-19 resurgence in China. Despite quarterly revenues lower than prior year, we continued to prioritize the quality of sales, consistently with our full-price strategy. Today, we are quite encouraged by the positive customers’ reaction in China since the restrictions were lifted.
We are excited about the future potential of Ferragamo, thanks to the new product offering which will progressively increase its share throughout 2023, to the renewed brand image and to a strong Management Team now in place. We confirm our mid-term ambition.”
Florence, 26 January 2023 – Salvatore Ferragamo S.p.A. (EXM: SFER) released the Group’s Preliminary Consolidated Revenues1 for the full year 2022, which amount to 1.252 million Euros up 10.2% at current exchange rates and up 5.7% at constant exchange rates2 vs. FY 2021.