Ferragamo upbeat about China

Italian luxury leather goods maker Salvatore Ferragamo expects strong ongoing demand in China.

The group forecasts a single-digit growth in its full-year revenues as it expects an improvement in the second part of the year.

Up to 20 new shops will be added this year, four of them in large Chinese cities where the brand currently does not have a presence, says CEO Michele Norsa.

“For China the medium-term outlook is extremely positive and growth in the travel retail market is still very rapid,” Norsa said.

Ferragamo, whose shoes were worn by Hollywood film stars such as Marilyn Monroe and Audrey Hepburn, reported an overall increase of three per cent in retail like-for-like sales during the first quarter.

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