Record 61% net profit growth for Salvatore Ferragamo in the first 9 months of 2013
Italian luxury house of Salvatore Ferragamo reported today a record 61 percent jump in net profits for the first 9 months of 2013, to a total of 112 million euros. Ferragamo’s turover grew by 10% to 915 million euros in the first 9 months of 2013 compared to the same period 2012. The company attributes the positive financials to improved performance in China where it increased its stake in the local distributor as well as booming sales in South Korea and Asia-Pacific. Ferragamo is based in Florence and is entirely family owned, an IPO being planned for 2014-2015.