Salvatore Ferragamo will still grow, but there will be no takeovers: the Florentine maison will rather focus on Chinese market and on travel retail sector. These are the indications that arrived yesterday from the top management of the company on the sidelines of the fashion show for the men's spring-summer 2015 collections.
“I confirm the growth forecasts, even if the year will be volatile due to the exchange rate trend – he said Michael Norsa, CEO of Ferragamo –. In the second part of the year the performance should be a little better than in the first part, when geo-political tensions made themselves felt”.
Norsa then underlined that “the outlook for China is extremely positive. In addition, the tourist flows are also doing well".
As for the acquisitions, "we don't want to make them - clarified the president of the company, Ferruccio Ferragamo –, even if we know that some brands are for sale. We want to do well what we know how to do. On the other hand, we've already tried in the past with Ungaro, and it went badly".
Opening today in Piazza Affari, Salvatore Ferragamo's shares are up 0,6%, to 20,6 euros. On the monthly average, the shares show a decrease of 7,2%, however more contained than the half-yearly (-25,9%) and annual (-9,2%) one.
