The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
FLORENCE, Italy — Salvatore Ferragamo said on Wednesday that 2017 preliminary revenues fell 3.1 percent, dragged by the group's sales in the last three months of the year, as it struggles with its ambitious new strategy.
The luxury goods group said 2017 fourth-quarter sales were down 8.4 percent at current exchange rates, hit by adverse currencies and an ongoing planned clearance of its product inventory.
Since launching a plan last year to make the brand more contemporary and appealing, the Florence-based company's core profit margins have been falling year-on-year. In December the group said it could not confirm its medium-term targets.
Like-for-like sales last year were down 1.7 percent.
By Giulia Segreti and Elisa Anzolin.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.