Ferragamo Q1 revenue slips 2.6% amid Asia Pacific weakness
Italian luxury brand Ferragamo reported €221 million in revenue for the first quarter of 2025, reflecting a decline of 1% at constant exchange rates and 2.6% at current exchange rates compared to €227 million in Q1 2024.
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Direct-to-consumer (DTC) consolidated net sales reached €164 million, down 4.5% at constant exchange rates and 3.6% at current exchange rates from €170 million in the same quarter last year. While Europe, Japan, and Latin America posted solid results, performance in the Asia Pacific region weakened, impacting overall DTC figures.
The wholesale channel, however, showed resilience. Consolidated wholesale net sales rose to €54 million, marking a 10.3% increase at constant exchange rates and a 7.9% increase at current exchange rates, up from €50 million in Q1 2024. All regions contributed positively to this growth.
'In the first months of the year,' the company stated, 'we focused on our core leather goods business, further reinforcing the handbags category. We expanded our offering of carryover models like the Hug Bag and introduced new bestsellers such as the Soft Bag. This strategy led to strong performance in the leather goods category during the quarter.'
Ferragamo also emphasized product refinement across other categories. 'We're optimizing our women's footwear range, concentrating on functional models like ballet flats and pumps. We're building on bestsellers while also launching new styles,' the brand added. 'For men's footwear, we aim to offer a broad range—from hybrid sporty designs to formal classics—by leveraging our most iconic models. We continue to enhance our product offering across all price points and functions to deepen customer engagement. This includes agile multichannel marketing, in-store events, and compelling digital content.'
The company acknowledged the broader economic headwinds affecting its Q1 results. 'A challenging macroeconomic environment weakened consumer confidence and lowered store traffic. Although higher conversion rates and increased average transaction value provided some relief, they couldn't fully offset the impact. Our DTC channel performed well in Europe, Japan, and Latin America but declined in Asia Pacific. Wholesale, however, delivered strong results across all markets.'
Ferragamo concluded with a note of cautious optimism: 'Fully aware of the increasingly uncertain environment, we remain committed to evolving our product offering to meet customer expectations and strengthen our market position. We will rely on our strong brand DNA and creative edge, while maintaining flexibility and operational discipline.'
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