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MILAN – July shows innovations in all Salvatore Ferragamo markets, but the closure of stores due to the coronavirus pandemic damages the company’s sales in the first part of the year.
The Florence-based luxury organization reported initial sales at the end of the session on Tuesday, falling 46.6 million to 377 million euros in the first six months ended June 30. This compares to 705 million euros at the same time last year.
Second quarter sales fell by 60.1%, affected by the pandemic, blockade of activities and lack of foreign traffic.
As of June 30, the company had 643 establishments, adding 389 its own retail establishments and 254 third-party retail establishments operated through wholesalers and canals.
In the first part of the year, the retail distribution channel recorded a minimisation of 41% to 260.6 million euros, or 69.2% of the total. At the time of the quarter, retail revenue is minimized by 51.2%.
Wholesale trade fell 56.4% to 110.8 million euros, or 29.4% of the total.
At the time of the quarter, wholesale revenues declined 75.7%, mainly due to the functionality of the retail channel and fragrance division.
The Asia-Pacific region remained the group’s largest market in terms of sales, falling from 39.9% to 166.7 million euros, or 44.3% of the total. At the time of the quarter, sales in the domain declined by 35.3% at constant exchange rates, benefiting from the positive functionality of the retail channel in China, which grew by 11.6% at constant exchange rates.
In particular, as of July 25, the organization had recorded an expansion forged at its own outlets in mainland China, Korea and Japan until July last year.
Europe recorded a 51.7% drop in sales in the first part of the year, falling to 85.7 million euros, or 22.8% of the total. Second quarter sales fell 71.9% at constant exchange rates, heavily affected by store closures and lack of tourists during the period.
These points have affected all regions. North America fell 54.4% to 69.7 million euros, or 18.5% of the total in the first half, and the quarter fell 81.1%.
The Japanese market fell by 37.4% in revenue in the first half to 36.8 million euros, or 9.8% of the total, with a decrease of 56.1% in the quarter.
Revenues in Central and South America fell 54.6 to 17.4 million euros, or 4.6 million of the total. In the last quarter, they fell 89.2%.
By product categories, sales of footwear, Ferragamo’s business, fell 46.4% to 159.5 million euros, 42.4% of the total.
Revenues by leather goods and fell 43.6% to 158.5 million euros, or 42.1% of the total.
The pre-t-a-porter fell 47.3% to 19 million euros, 5.1% of the total.
Perfumes fell 66.3% to 14 million euros, or 3.7% of the total, also impacted by retail functionality.
As reported in May, Michele Norsa is back in Ferragamo, joining the board as director and vice president. Ferruccio Ferragamo heads the corporation as president, but has transferred his powers to Norsa, and Micaela the Divelec Lemmi remains CEO. Norsa first joined Ferragamo in 2006 and helped him grow globally, publicly publishing it in 2011 as CEO and left in 2016.
Ferragamo presented a new online page on the blockade in Italy in late April, as a component of the company’s recent rise to generation and social media. The corporation released a video at Milan’s Digital Fashion Week before this month about logo values and in July presented Augmented Store 360, a virtual tour of its stores, compatible with AR devices, which allows consumers to shop online and make a stopover at the Ferragamo Museum in FlorenceArray with an interactive tour targeted through non-public guides.
Early Tuesday, the organizers of the Venice Film Festival showed that the occasion would take place as planned in physical format, from 2 to 12 September, and Luca Guadagnino’s documentary about founder Salvatore Ferragamo will be presented in the Out Competition Section.
Guadagnino’s documentary traces Ferragamo’s artistic journey, while exploring the hitale of Italy and America, the latter country where he developed his business, creating shoes for Marilyn Monroe and Audrey Hepburn. The film tells the story of Ferragamo, who began his career as an apprentice shoemaker in Naples and then owned Hollywood Boot Shop in California, on his return to Italy, founding his eponymous company in Florence.
The film, said the festival’s director, Alberto Barbera, is “fascinating, disruptive and perfectly accomplished.”
“We were very pleased to be informed that the film about my father’s life would be presented at the Venice Film Festival,” said Ferruccio Ferragamo, Salvatore’s son. “It is an honor for me and my entire circle of relatives that a director of the caliber of Luca Guadagnino takes an interest in the history of our circle of relatives, adapting it to the big screen.”
Ferragamo’s autobiography encouraged Guadagnino to expand the assignment from 2017, contacting Ferragamo’s circle of relatives. The director had access to the archives of the fashion brand, circle of family anecdotes and interviews, adding with the defeated wife of Salvatore, Wanda Miletti, who died in October 2018.
For 3 years, the Fondazione Salvatore Ferragamo and the Salvatore Ferragamo Museum worked with director and screenwriter Dana Thomas. The studios were also supported by Salvatore Ferragamo’s magnetic recordings reading aloud some of the chapters of his autobiography, which were restored for the occasion, and the radio interviews he gave in Australia. In a teaser, Martin Scorsese recounts that Ferragamo, born in 1898 in Bonito, in italy’s Campania region, moved to Naples, which at that time in “she himself another galaxy”.
“It’s the task of my life: to look to be informed of how to make shoes that I have left and to refuse to put my call on the ones I don’t have left,” Ferragamo writes in the preface to his autobiography. “So take a look behind the story of the barefoot, illiterate child who has become a remarkable shoemaker, and look at the excitement you’ll get from walking well.
Guadagnino, whose film “Call Me Through Your Name” won an Oscar nomination for Best Film and Best Leading Actor for Timothée Chalamet’s performance, founded in 2012 the corporate producer Frenesy Film in particular to take on projects with primary fashion brands. , and directed or produced short films or advertisements for Array among others, Fendi, Giorgio Armani, Ermenegildo Zegna, Salvatore Ferragamo, Sergio Rossi, Cartier, Pomellato and Valentino.
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