(Finance) – Salvatore Ferragamo announced preliminary data of consolidated revenues of the Group for the 2023 financial year, which amount to to 1,157 million euros, down 7.6% at current exchange rates and 8.1% at constant exchange rates compared to financial year 2022.
The distribution channel Retail recorded a sales decline of 10.8% (-7.7% at constant exchange rates), while the channel Wholesale reported a drop of 12.1% (-10.2% at constant exchange rates).
The Asia Pacific area recorded one decrease of 13.1% (-8.3% at constant exchange rates2), the Japanese market of 12.6% (-3.7% at constant exchange rates2), while the EMEA area recorded a increase by 3.3% (+3.4% at constant exchange rates). The North American area recorded a drop of 19.2% (-16.9% at constant exchange rates2+), compared to fiscal 2022, in a context of general market deceleration The area of Central and South America recorded a drop of 7.1% (-11.5% at constant exchange rates).
The CEO Marco Gobbetti he highlighted that “2023 was a year of very intense work in which we made significant progress in the transition towards the new course”. We are aware of the work that awaits us – she added – and we are confident that our strategy will bring out Ferragamo’s potential. The difficult market context, with the slowdown in demand for luxury goods, could impact the timing of our initial forecasts; Despite this, the commitment towards our strategic objectives remains unchanged.”
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