Salvatore Ferragamo makes 30% more profit

Salvatore Ferragamo makes 30% more profit

Italian luxury group Salvatore Ferragamo made a net profit of 106 million euro in 2012, 30% more than in 2011. The chain also saw its sales rise by 17% in 2012 to 1.15 billion euro.

Japan lags behind

In Central and South America the company had 27% more sales, in Europe the rise was 21%, in Southeast Asia 17% and in North America 16.5%. In Japan the rise was much lower at 5%. Divided by product especially the sales of shoes rose (+19.6%), handbags and other leather goods rose by 16.4% and the small department of perfumes had 20% more sales. Again one branch lagged a bit behind: in fashion sales only rose by 5.4%.

 

In the beginning of 2013, CEO Norsa announced that the prices for shoes, handbags and clothing would be raised by 9 to 11%, because the market is being boosted by Chinese supplying themselves in Europe. Designer products are 30% cheaper here than in China, mainly because of an import tax of 20%. At the end of 2012 Salvatore Ferragamo had 338 stores of its own and another 268 are franchised.

Questions or comments? Please feel free to contact the editors


Cash register-free Amazon supermarket still not open

23/06/2017

Amazon’s cash register-free supermarket, Amazon Go, still has not opened to the general public and now one of its directors will leave Amazon.

Danone streamlines its European organization

23/06/2017

Dairy manufacturer Danone is to optimize its European organization: Belgium, the Netherlands, the United Kingdom and Ireland are to form one cluster. Kris Geeraert, general manager Benelux, will leave the company.

Diageo buys George Clooney's tequila brand for 620 million euro

22/06/2017

British liquor group Diageo has paid 700 million dollars (about 620 million euro) for George Clooney’s premium tequila brand Casamigos and that could rise to 1 billion dollars.

AB InBev wants to sell two German beer brands

21/06/2017

AB InBev is looking for a buyer for its German beer brands Hasseröder and Diebels. The Belgian beer giant hopes to attract about 200 million euro for both brands.

Colruyt Group turnover grows more than 3 %

20/06/2017

Colruyt Group has seen its turnover grow 3.4 % to 9.493 billion euro in its fiscal year 2016/2017. Thanks to the sale of its French food service business Pro à Pro on 1 February, profits also grew.

Hungary can ban Heineken’s red star

20/06/2017

The European Commission revealed it will not stand in Hungary’s way if it wants to ban certain symbols, including the red star in Heineken’s logo.

Back to top