Ferragamo Faces Luxury Market Downturn: Reports 6.6% Sales Dip in First Nine Months

Salvatore Ferragamo ended the first nine months of the year with a 6.6% drop in sales, which stood at €695 million, at current prices, compared to €744 million in the same period last year. For the third quarter, the company only provides the evolution at constant prices, so that sales would have increased by 1.7%.

As published by the Italian luxury fashion company, direct-to-consumer sales for the third quarter came in at €169 million, 0.7% below the same period last year. At this point, the results of North America, Europe and Latin America would be offsetting the weakness of Asia.

The company’s own points of sale reported sales of €526 million in the last nine months, 4.7% less than in 2024. The weakest channel for the luxury company continues to be wholesale, where the Italian company reported sales of 40 million euros, down 8%.

The company’s own points of sale generated €169 million in the third quarter, down 0.7%

In Emea, the company recorded a decline of 4.1% in the last nine months of the year. In North America, the decline was 0.4%. In Central and Latin America, sales fell by 2.6%. In Asia Pacific, the decline was greater, at 17.9%. However, if constant prices (excluding inflation and exchange rates) are taken into account, results improved in all markets.

To turn the numbers around, the company claims to have carried out a comprehensive analysis of its business. In terms of its offer, the strategy is to strengthen its collections by focusing on footwear and leather goods and, above all, by seeking economic efficiency in the collections.

Ferragamo has stated that its average ticket has increased and has highlighted its strong markets, America, Europe and Latin America, as opposed to the rest, especially Asia, where the luxury sector is going through a weak moment.

“We are aware that the geopolitical and macroeconomic environment remains uncertain, but we will continue to implement our strategy, reinforcing our market positioning,“ the company assures. Finally, it has committed to review its cost structures and processes “when necessary”.