Ferragamo expects stagnant performance in 2016
In an interview to Reuters, Michele Norsa, CEO of Salvatore Ferragamo said: ”I think that 2016 will be similar to 2015, heavily influenced by geopolitical factors, from currency fluctuations and a general instability, which, however, should improve in the second half of the year. ”
In Milan, the brand is growing “double-digit”, while in Hong Kong, “the situation remains weak.” “We realize the 36/38% of sales in Asia-Pacific, which is also to Australia, where we have + 30%, Thailand, where there is a strong flow of Chinese and Japan, which remains solid.
There is a redistribution in progress, with Hong Kong losing importance and other regions who purchase more weight, “said Norsa, pointing out that the incidence of the region on the total turnover will remain stable in 2016.
Bearing in mind that “luxury is a market that probably in the future will grow less than they did in the past five years,” Ferragamo will focus more than ever profitability. “There is still room for improvement – said the CEO – in part by exploiting the advantages of the change, in part by working on management efficiency: I think that the markets expect this of us and we have always exceeded expectations.”
About the ‘see now – buy now “, Norsa said that as there is a difference between fast food and haute cuisine. The countries that support this new trend, not surprisingly, are those in which there is no production. “It’s a request, it must be listened to but with great caution. You can work on time, but you can not compress too much if you want high-quality products.”