On May 14, Italian luxury group Salvatore Ferragamo Group released its results for the first quarter of 2026 ended March 31: total revenue declined by 5.5% year-on-year to €209 million (at constant exchange rates: -1.2%).
At constant exchange rates, amid a challenging geopolitical and economic environment, the Group’s DTC (direct-to-consumer) business continued to grow, validating the effectiveness of strategic initiatives implemented since the second half of last year. Excluding Japan, DTC operations recorded growth across all regions, with North America and Latin America leading with double-digit increases. In the Europe, Middle East and Africa (EMEA) region, DTC performance was supported by local demand, while Asia-Pacific maintained the positive momentum seen in the fourth quarter of 2025.
Despite ongoing global instability, including the Middle East conflict and its potential short- to medium-term impacts, which have further intensified external pressures, Ferragamo remains focused on advancing its strategic roadmap. The Group is leveraging its brand heritage and core strengths to enhance desirability, optimise its product mix, and ensure consistent messaging across all channels. It will continue to prioritise revenue scale and distribution quality, while maintaining strict operational discipline and financial sustainability.
As of the close on May 14, the company’s share price rose 4.57% from the previous trading day to €8.12, bringing its latest market capitalisation to €1.35 billion. Over the past year, the stock has gained a cumulative 34.21%.
By region:
- Europe, Middle East and Africa (EMEA):
Total net sales decreased by 17.6% year-on-year (at constant exchange rates: -17%).
The DTC channel still achieved positive growth despite a high comparison base and reduced tourist traffic, supported by local client engagement initiatives. Wholesale declined by double digits year-on-year, reflecting the Group’s ongoing selective distribution strategy and the high base effect.
- North America:
Total net sales increased by 7.3% year-on-year (at constant exchange rates: +18.8%).
The DTC channel delivered double-digit growth at constant exchange rates, driven by targeted client engagement and product promotion. Wholesale also recorded double-digit growth, with new collections receiving strong market feedback. The Group continues to deepen its presence in the region, advancing renovations of its flagship stores on Fifth Avenue in New York and Rodeo Drive in Beverly Hills, Los Angeles, and opening two pop-up stores.
- Central and South America:
Total net sales increased by 7.6% year-on-year (at constant exchange rates: +7%). The DTC channel achieved double-digit growth despite a high comparison base.
- Asia-Pacific:
Total net sales decreased by 12% year-on-year (at constant exchange rates: -5.4%). The DTC channel showed improvement at constant exchange rates, while wholesale declined by double digits, reflecting channel strategy adjustments.
- Japan:
Total net sales decreased by 16.5% year-on-year (at constant exchange rates: -4.4%), impacted by a sharp decline in Chinese tourist traffic.
By channel:
- DTC: Total net sales decreased by 1.9% year-on-year to €161 million (at constant exchange rates: +5.5%). Excluding Japan, all regions recorded growth at constant exchange rates, with North America and Latin America delivering double-digit increases.
- Wholesale: Total net sales decreased by 21.8% year-on-year to €42 million (at constant exchange rates: -19%). The decline reflects the Group’s decision to focus on DTC and core clients, in line with its brand positioning.
By category:
- Footwear: Net sales decreased by 3.4% year-on-year
- Leather goods and handbags: Net sales decreased by 11.5% year-on-year
- Ready-to-wear: Net sales decreased by 3.1% year-on-year
- Silk and other accessories: Net sales decreased by 1.1% year-on-year
| Source: Official financial report
| Image Credit: Brand official website
| Editor: Luxeplace
