The wholesale segment was the main resistance, with the H1 revenues that fell by 17.9 percent to € 105 million, while direct sales to the consumer (DTC) decreased by 6.5 per cent for € 357 million.
Salvatore Ferragamo recorded revenue for 474 million euros (~ $ 549.84 million) in H1 2025, down by 9.4 percent on an annual basis, with a net loss of € 57 million (~ $ 66.12 million) due to the weak question of the Pacific. Wholesale sales decreased by 17.9 percent, the DTC dropped by 6.5 percent and the Ebitda decreased by 38.1 percent. D2 revenues collapsed by 14.6 percent, although Latin America has shown growth. Strategic repositioning efforts are underway.
The gross profit dropped by 15 % to € 321 million, with the margin restricting to 67.7 percent from 72.1 percent. The company’s Ebitda dropped by 38.1 percent to € 73 million, while the rectified Ebit became negative for 3 million euros compared to a profit of 28 million euros in H1 2024.
In terms of regional performance, sales of Pacific Asia collapsed by 16.3 percent at constant exchange rates, while Europe and Japan also saw a drop. Latin America was the only bright point, increased by 11.6 percent on a constant base. Footwear sales, the largest segment in Ferragamo, dropped by 13.3 percent.
As for the category, the footwear remained the main category with € 201.8 million sales, equal to 43.6 percent of total net sales. This scored a 13.3 percent drop on an annual basis at constant exchange rate. The leather articles are followed closely to € 199.1 million (43.1 percent of net sales), down only 0.2 percent based on constant exchange rates.
In the meantime, the clothing sector has generated 27.2 million euros (5.9 percent of sales), reflecting a drop in Yoy of 8.6 percent at constant exchange rates. Silk and other products brought 34.3 million euros (7.4 percent of net sales), falling by 6.1 percent at constant exchange rates.
In the second quarter (Q2) of 2025, its revenues amounted to 253 million euros (~ $ 293.48 million), falling by 14.6 percent to current exchange rates and 11.8 percent at constant rates, mainly affected by a wholesale channel deterioration which fell by 34.3 percent. DTC revenues in the second quarter decreased by 5.4 percent at constant exchange rates.
The company cited a worsening of the consumption environment in Asia Pacific and Japan, exhausted by the reduced tourist expenditure and a high base in the second quarter 2024 – as key factors. The wholesale weakness cut the regions, with Europe, the Middle East and Africa (EMEA) which see a 19.5 percent drop in net sales and Japan who recorded a drop of 12.6 percent. Only Latin America has shown resilience, with net sales of the second quarter of 11.2 percent at constant exchange rates, led by a strong moment of the DTC.
Ferragamo reiterated his attention to strategic repositioning, including a refreshed product strategy, a more clear communication narrative and greater efficiency in marketing expenditure. Online sales from its official website have seen a two -digit growth in H1 and the brand is advancing the store renewal plans and the control of the inventory to align with the evolving market conditions, added the release.
Fiber2fashion news desk (sg)