Salvatore Ferragamo 2015 revenues up 7.4%
Salvatore Ferragamo released the Group’s Preliminary Consolidated Revenues for the Fiscal Year 2015, which amount to 1,430 million Euros up by 7.4% at current exchange rates (including the hedging effect) and by 1.3% at constant exchange rates vs. FY 2014.
As of 31 December 2015, the Salvatore Ferragamo Group reported Total Revenues1 of 1,430 million Euros (including the negative hedging effect of 51 million Euros), up by 7.4% at current exchange rates (+9.0% in 4Q 2015) over the 1,332 million Euros recorded in FY 2014. Revenue growth at constant exchange rates has been 1.3% (+2.1% in 4Q 2015).
The Asia Pacific area is confirmed as the Group’s top market in terms of Revenues1, representing 36% of total in FY 2015, up by 4%. In 4Q 2015 the growth was over 8%, despite the hard comparison base (+11% in 4Q 2014) and the deterioration of the business in Hong Kong. The retail channel in China in FY 2015 recorded a 10% growth compared to the same period in 2014, and +10% in 4Q 2015 (+1% at constant exchange rates). The trend showed an improvement vs. 3Q 2015 (-3% reported and -7% at constant exchange rates), despite Revenues already up by 23% at constant exchange rates in 4Q 2014.
Europe posted an increase in Revenues of 7% in FY 2015. In 4Q 2015, despite the dramatic events occurred, the growth was 9% (+14% in 4Q 2014).
North America, penalized by the strong currency and the decrease of touristic flows, registered an increase in Revenues of 9% in FY 2015 (-2% at constant exchange rates) and 8% in 4Q 2015 (-3% at constant exchange rates).
The Japanese market showed an increase in Revenues of 14% in FY 2015 (+18% in 4Q 2015), also thanks to the significant travel flow from China. At constant exchange rates the growth was 15% in FY 2015 and 13% in 4Q 2015.
Revenues in Central and South America showed solid results with an increase of 12% in FY 2015 (+4% in 4Q 2015). At constant exchange rates the growth was 8% in FY 2015 and 3% in 4Q 2015.
As of 31 December 2015, the Salvatore Ferragamo Group’s Retail network could count on 391 Directly Operated Stores (DOS), while the Wholesale and Travel Retail channel included 271 Third Party Operated Stores (TPOS), as well as presence in major Department Stores and high-end multi-brand Specialty Stores.
In FY 2015 the Retail distribution channel posted Consolidated Revenues up by 7% (+7% in 4Q 2015) compared to the same period in 2014. At constant exchange rates the growth was 1% both in FY 2015 and 4Q 2015, with a performance at constant exchange rates and perimeter (like-for-like) of -3% (-4% in 4Q 2015).
The Wholesale channel delivered in FY 2015 a growth of over 7% (+12% in 4Q 2015), also thanks to the good performance of the Travel Retail channel.
Among the product categories it is especially worth underlining the increase of handbags and leather accessories, that posted a growth of 12% in FY 2015 and 14% in 4Q 2015. In 4Q 2015 also fragrances and licenses registered a solid performance (+18% and +44% respectively).