February 28th, 4pm.
The Italian brand Salvatore Ferragamo showed its FW 16-17 woman collection in Piazza Affari 6, Milan.
Guests from every area of the world were sitted at the catwalk, raring to be engaged in the Ferragamo’s world
Besides the sophisticated and luxurious collection inspired by the unconditioned geometry, what I want to focus on is the overview on economic results of the florentine company during the last years. Salvatore Ferragamo strong of its enviable heritage and long history has been able to communicate throughout the style its Italian roots which are now, as in the past, strongly appreciate abroad.
The Asian continent is one of the most important market for the company, it worths 1/3 of the whole profits. The key market in that area, which has been entered in the ’70, is the Japan where Salvatore Ferragamo has more than 60 shops.
On the other hand a market which is not performing well for Salvatore Ferragamo such as for the majority of the Luxury brands is the Russian one. This is every day on the front page and is impacting one of the stronger consumers and heavy spenders which are the Russian and this is of course affecting Europe as well.
The CEO of the company Michele Norsa, despite the hard situation in Russia, is confident about the presence of the brand in the Asian market where the it is distributed throughout 130 shops in spite of the “crisis” that the China has experienced in terms of general growth.
An additional exploitable opportunity which refers to Asia concerns the tourism flow that is growing day by day. More and more cities in Asia are reducing restrictions of getting visa, so an increasing number of people from the Asian continent will have the chance to travel out of the country. 130 million of chinese plan to travel abroad so the opportunity that has to be catched can be very profitable for those companies that want to develop and monitor this quite new trend in order to meet a new target.
According with the Salvatore Ferragamo CEO and with Credit Suisse there is enough room to better the profitability of the brand during the current year in Italy, where profits are growing double digit, and of course in Asia.