As of December 31st, 2023, Ferragamo’s net sales for the fiscal year 2023 decreased by 11.1% year-on-year to 1.12 million euros (calculated at a fixed exchange rate: -8.4%).

These three companies were co-founded by Salvatore Ferragamo and Chinese-Hong Kong entrepreneur Peter K.C. Woo.

Ferragamo noted that they are quite encouraged by the positive customers’ reaction in China since the restrictions were lifted.

China has officially lifted the pandemic restrictions it had in place on January 8. Cross-border travel and international tourism have been reinstated, greatly boosting the confidence of international luxury markets.

In 2022, Luxe.CO’s Personnel Trends column recorded a total of 29 fashion and luxury brands that had announced changes to their creative directors. Among them, 27 companies have newcomers in place, and 2 companies have left the spot vacant. From this, we have observed 5 important trends.