Ferragamo, revenues up 10.2%. 2023? «Optimism despite geopolitical volatility»- Corriere.it

Archives 2022 with revenues of 1.2 billion euros (+10.2% compared to the end of 2021) and a net profit of 65 million euros (-19.5%) and a gross operating margin of 299 million euros (-1.8%). The Ferragamo group, led by Marco Gobbetti he underlined that the Italian luxury house is “well positioned on prices” and that he is “quite satisfied”. During the call with the analysts the cfo of the group, Alessandro Corsi, speaking of margins, he added that “inflation weighs” and that “there will be important investments in 2023”. In 2022 they amounted to 56 million euros, compared to 44 million euros in the same period of the previous year, mainly following the renewal of the distribution network and investments in the digital channel.

“In 2023 margins will be slightly lower than in 2022 given that inflation weighs heavily and important investments are also expected» declared the CEO and added that in 2022 they defined the new business plan and began its implementation, «with excellent progress in strategic activities. We have also prioritized the quality of sales and significantly increased investments in marketing and communication». «On the other hand, «the reopening of China is an opportunity for growth for Ferragamo» also because China’s zero Covid policy has had its weight.

And for the future, Gobetti looks to 2023 «with optimismalthough the year will continue to be characterized by geopolitical volatility».