Salvatore Ferragamo S.p.A., a marketer of luxury goods said its revenues for 2015 amounted to €1,430 million, up 7.4 per cent year on year at current exchange rates and 1.3 per cent at constant exchange rates.
As per a press release, the Asia Pacific area was the Group's top market in terms of revenues, representing 36 per cent of overall sales in 2015 and sales here rose 4 per cent over a year ago period.
However, in the fourth quarter of 2015 the revenue growth in the region was good, despite the hard to compare base of 11 per cent in the same quarter of 2014 and the deterioration of the business in Hong Kong.
The retail channel in China recorded a 10 per cent growth in 2015 as well as in the fourth quarter and the trend showed an improvement versus the third quarter of 2015.
“Europe posted an increase in revenues at 7 per cent year over year in 2015, while 2015, despite the dramatic events in the year, fourth quarter sales grew 9 per cent,” the company observed.
According to Salvatore, the North American market penalised by the strong currency and the decrease of touristic flows, registered an increase in of 9 per cent, but a negative 2 per cent at constant exchange rates.
The Japanese market showed an increase in revenues at 14 per cent in the reporting year 2015, primarily due to the significant travel flow from China.
“At constant exchange rates the sales growth in Japan was 15 per cent in 2015 and 13 per cent in the fourth quarter of 2015,” the company stated.
Revenues in Central and South America showed solid results with a year over year increase of 12 per cent in 2015, while at constant exchange rates, the growth was 8 per cent.
As of 31 December 2015, the Salvatore Ferragamo Group operated 391 directly operated stores, while the wholesale and travel retail channel included 271 third party operated stores.
In the year under review, revenues in the retail channel were up 7 per cent year on year in both 2015 as well as the fourth quarter.
However, at constant exchange rates the sales growth was just 1 per cent in both the periods under review.
The wholesale channel delivered revenue growth of over 7 per cent in 2015 and over 12 per cent in the fourth quarter, mainly due to the good performance of the travel retail channel.
Among product categories, handbags and leather accessories posted a sales growth of 12 per cent over 2014 and 14 per cent in the fourth quarter of 2015.
In the fourth quarter of 2015, fragrances and licenses too registered a solid performance of 18 and 44 per cent respectively. (AR)
Fibre2Fashion News Desk – India