Salvatore Ferragamo Hong Kong sales still weak
Despite business still being weak in Hong Kong, Asia Pacific was again been the top market in revenue terms last year for Italian design label Salvatore Ferragamo.
Preliminary figures show the group’s consolidated revenues for its latest fiscal year reached €1438 million (US$1.5 billion), up by 1 per cent at current exchange rates and down by 2 per cent at constant exchange rates from the previous 12 months.
Asia Pacific contributed 36 per cent of total revenue for the year, up by 1 per cent. Growth was more than 4 per cent for the fourth quarter. The positive performance was achieved despite lacklustre sales for Salvatore Ferragamo Hong Kong.
In Japan, the brand had stable revenues last year, with a 3 per cent rise in the fourth quarter.