FERRAGAMO in good shape for imminent IPO

Salvatore FERRAGAMO reported for the first quarter of 2011 a net profit of 15,5 million euros, a 43,5 % increase on the same period last year. Ferragamo revenues in the Q1 rose by 21%, to a level of 210 million euros. Sales in Europe grew by over 30% while sales in Asia Pacific grew by 42,3%. The Italian luxury brand is preparing for its IPO later this summer.