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Asharq Al-Awsat
Asharq Al-Awsat
Lifestyle
Asharq Al-Awsat

Ferragamo Sales Beat Forecasts in H1 despite Slowdown in China

Ferragamo China Salvatore Ferragamo Luxury Marco Gobbetti Covid-19 Europe United States

Revenues at Italian luxury group Salvatore Ferragamo topped market forecasts in the first half of the year despite a slight slowdown in the second quarter due to COVID-19 restrictions in China.

Underpinned by sound growth in Europe and United States, sales rose by 17% at constant exchange rates to 630 million euros ($624 million) in the six months to the end of June, versus an analyst average estimate of 621 million euros, according to a Reuters poll.

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