SALVATORE FERRAGAMO S.P.A. 
PRESS RELEASE
Salvatore Ferragamo S.p.A.
FY 2021 Group Preliminary Consolidated Revenue Figures
- Salvatore Ferragamo Group Consolidated Revenues1 up 29.6% in FY 2021
(+31.4% at constant exchange rates2) vs. FY 2020- In 4Q 2021 the Salvatore Ferragamo Group registered an increase in
Revenues1 of 20.8% vs. 4Q 2020, thanks to the strong contribution of North
America and of the digital channel
Florence, 27 January 2022 -Salvatore Ferragamo S.p.A. released the Group's Preliminary Consolidated Revenues1 for the full year 2021, which amount to 1,136 million Euros, excluding the Fragrance business, up 29.6% at current exchange rates and up 31.4% at constant exchange rates2 vs. FY 2020. Revenues1 in 4Q 2021 registered a 20.8% increase at current exchange rates (+23.5% at constant exchange rates2) vs. 4Q 2020.
Revenues1 by distribution channel3
In FY 2021 the Retail distribution channel posted consolidated Revenues1 up 30.2% (+32.2% at constant exchange rates2) vs. FY 2020. In 4Q 2021 Retail Revenues1 increased 17.1% (+20.1% at constant exchange rates2) vs. 4Q 2020, exceeding the pre-Covid levels, mainly driven by the performance in five Areas (Greater China, North America, Latin America, Korea and Japan).
The direct E-commerce channel in FY 2021 continues to consolidate a solid growth, with Revenues1 up 41.3% (+43.3% at constant exchange rates2) vs. FY 2020. In 4Q 2021 the direct E- commerce increased by 21.6% at constant exchange rates2 vs. 4Q 2020.
The Wholesale channel registered an increase in Revenues1 of 28.6% (+30.3% at constant exchange rates2) vs. FY 2020. In 4Q 2021 Wholesale Revenues1 were up 32.2% (+33.3% at constant exchange rates2) vs. 4Q 2020.
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Revenues1 by geographical area3
The Asia Pacific area is confirmed as the Group's top market in terms of Revenues1, up by 17.3% (+16.9% at constant exchange rates2) vs. FY 2020.
The retail channel in China posted an increase in Revenues1 of 9.4% vs. FY 2020 at constant exchange rates2. The retail channel in Korea also posted a solid growth trend in FY 2021 (+13.6% vs. FY 2020 at constant exchange rates2).
The Japanese market registered a 3.7% increase in Revenues1 (+8.1% at constant exchange rates2) in FY 2021, with a positive trend in 4Q 2021, (+1.3% at current exchange rates and +7.2% at constant exchange rates2) vs.4Q 2020.
EMEA, still penalized in FY 2021 by lock-downs of stores and mainly by the limited tourists' flows, posted an increase in Revenues1 of 21.2% (+19.0% at constant exchange rates2) vs. FY 2020, with 4Q 2021 positive (+29.7% at constant exchange rates2) vs. 4Q 2020.
North America recorded a Revenue1 increase of 71.5% (+82.6% at constant exchange rates2) in FY 2021 vs. the same period of 2020. In 4Q 2021 Revenues1 increased by 48.8% (+58.8% at constant exchange rates2) vs. 4Q 2020.
Revenues1 in the Central and South America in FY 2021 were up 37.3%, (+42.5% at constant exchange rates2). In 4Q 2021 Revenues1 increased by 10.3% (+16.1% at constant exchange rates2) vs. 4Q 2020.
Revenues1 by product category3
All main product categories reported a significant increase in FY 2021 vs. the same period of 2020, with shoes and leather categories representing respectively 43% and 44% of the turnover1 in the full year.
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Notes to the press release
1 Preliminary/Non-Audited Revenues drafted according to IAS/IFRS International Accounting Principles, excluding the Fragrance business both from the data relating to 2021 and to 2020, as the licensing operation of the Fragrance business was configured as a discontinued operational activity pursuant to IFRS 5, as announced in the press release as of July 7th 2021.
- Revenues at "constant exchange rates" are calculated by applying to the Revenues of the period 2020, not including the "hedging effect", the average exchange rates of the same period 2021.
- The variations in Revenues are calculated at current exchange rates including the hedging effect, unless differently indicated.
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The manager charged to prepare the corporate accounting documents, Alessandro Corsi, pursuant to article 154-bis, paragraph 2, of Legislative Decree no. 58/1998 (Consolidated Financial Law), hereby declares that the information contained in this Press Release faithfully represents the content of documents, financial books and accounting records.
This document may contain forecasts, relating to future events and operating results, which by their very nature are uncertain, in that they depend on future events and developments that cannot be predicted with certainty. Actual results may therefore differ with those forecasted, due to a variety of factors.
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Salvatore Ferragamo S.p.A.
Salvatore Ferragamo S.p.A. is the parent Company of the Salvatore Ferragamo Group, one of the world's leaders in the luxury industry and whose origins date back to 1927.
The Group is active in the creation, production and sale of shoes, leather goods, apparel, silk products and other accessories for men and women. The Group's product offer also includes eyewear, watches and perfumes, manufactured by licensees.
The uniqueness and exclusivity of our creations, along with the perfect blend of style, creativity and innovation enriched by the quality and superior craftsmanship of the 'Made in Italy' tradition, have always been the hallmarks of the Group's products.
With approximately 3,900 employees and a network of 409 directly operated stores (DOS) as of 31 December 2021, the Ferragamo Group operates in Italy and worldwide through companies that allow it to be a leader in the European, American and Asian markets.
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For further information: | |
Salvatore Ferragamo S.p.A. | Image Building |
Paola Pecciarini | Giuliana Paoletti, Mara Baldessari, Alfredo Mele |
Group Investor Relations | Media Relations |
Tel. (+39) 055 3562230 | Tel. (+39) 02 89011300 |
investor.relations@ferragamo.com | ferragamo@imagebuilding.it |
This Press Release is also available on the website http://group.ferragamo.com, in the section "Investor Relations/Financial Press Releases".
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On the following pages, a more detailed analysis of Revenues1 of the Salvatore Ferragamo
Group as of 31 December 2021.
Revenue1 by distribution channel as of 31 December 2021
(In thousands of Euro) | at constant | |||||
2021 | % on | 2020 Restated* | % on | % | exchange | |
Revenue | Revenue | Change | rate % | |||
Change | ||||||
Retail | 829,532 | 73.0% | 637,083 | 72.7% | 30.2% | 32.2% |
Wholesale | 295,897 | 26.1% | 230,114 | 26.2% | 28.6% | 30.3% |
Licenses and services | 7,746 | 0.7% | 7,062 | 0.8% | 9.7% | 9.7% |
Rental income investment properties | 2,361 | 0.2% | 2,253 | 0.3% | 4.8% | 8.5% |
Total | 1,135,536 | 100.0% | 876,512 | 100.0% | 29.6% | 31.4% |
* The data for FY 2020 were restated following the classification of the fragrances business as discontinued operation.
Revenue1 by geographic area as of 31 December 2021
(In thousands of Euro) | % on | % on | at constant | |||
2021 | 2020 Restated* | % Change | exchange | |||
Revenue | Revenue | rate % | ||||
Change | ||||||
Europe | 217,071 | 19.1% | 179,134 | 20.5% | 21.2% | 19.0% |
North America | ||||||
323,558 | 28.5% | 188,679 | 21.5% | 71.5% | 82.6% | |
Japan | ||||||
90,143 | 7.9% | 86,901 | 9.9% | 3.7% | 8.1% | |
Asia Pacific | ||||||
436,222 | 38.4% | 371,874 | 42.4% | 17.3% | 16.9% | |
Central and South America | ||||||
68,542 | 6.1% | 49,924 | 5.7% | 37.3% | 42.5% | |
Total | 1,135,536 | 100.0% | 876,512 | 100.0% | 29.6% | 31.4% |
* The data for FY 2020 were restated following the classification of the fragrances business as discontinued operation.
Revenue1 by product category as of 31 December 2021
(In thousands of Euro) | at constant | |||||
2021 | % on | 2020 Restated* | % on | % | exchange | |
Revenue | Revenue | Change | rate % | |||
Change | ||||||
Footwear | 486,104 | 42.8% | 374,729 | 42.8% | 29.7% | 32.1% |
Leather goods | 495,683 | 43.6% | 388,643 | 44.3% | 27.5% | 28.9% |
Apparel | 70,087 | 6.2% | 50,218 | 5.7% | 39.6% | 41.6% |
Accessories | 69,243 | 6.1% | 50,802 | 5.8% | 36.3% | 38.2% |
Fragrances | 4,312 | 0.4% | 2,805 | 0.3% | 53.7% | 57.4% |
Licenses and services | 7,746 | 0.7% | 7,062 | 0.8% | 9.7% | 9.7% |
Rental income investment properties | 2,361 | 0.2% | 2,253 | 0.3% | 4.8% | 8.5% |
Total | 1,135,536 | 100.0% | 876,512 | 100.0% | 29.6% | 31.4% |
* The data for FY 2020 were restated following the classification of the fragrances business as discontinued operation.
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Salvatore Ferragamo S.p.A. published this content on 27 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 08:50:01 UTC.
