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Ferragamo’s sales increased 1.7 per cent year-on-year at constant exchange rates to €221 million in the third quarter of 2025, ended 30 September 2025, on the back of strong sales in North America that were offset by declines in Asia.
It’s an improvement on last quarter, when sales fell 11.8 per cent. In the first nine months of 2025, revenues declined 4.5 per cent to €695 million.
The company is still without a CEO following Marco Gobbetti’s exit in March. Since Q2, Ferragamo has “undertaken and completed a comprehensive diagnostic assessment of the business to ensure full alignment and coherence across design, product, communication and distribution channels”, the company said in its earnings release on Thursday. This involves refocusing on key business priorities such as the core footwear and leather goods categories, while taking a digital-first approach to marketing.
“We will continue executing with operational flexibility and financial discipline, revisiting cost structures and processes where appropriate, without compromising on brand desirability and future growth,” the company said in a statement.
By region, sales increased 2.8 per cent in EMEA (Europe, the Middle East and Africa), 15.6 per cent in North America and 4.7 per cent in Central and South America. Asia remained challenged, with sales down 10.5 per cent in the Asia-Pacific region and down 5.4 per cent in Japan.
Direct-to-consumer (DTC) sales in Q3 grew 4.4 per cent, with positive performance in North America, Europe and Latin America offsetting weaker results in Asia. Ferragamo said its DTC sales supported higher average ticket prices, improved cross-selling opportunities and more effective clienteling strategies. Wholesale sales are still struggling, declining 6.7 per cent in Q3.
“While conscious that the geopolitical and macroeconomic environment remains uncertain, we will continue to deploy our strategic actions, reinforcing market positioning and strengthening the link between our DNA and creative capabilities, to ensure full alignment across design, product, communication and distribution, consistent with our clientele’s expectations,” the company said. “We remain confident that these efforts will become more visible in the coming quarters, supported by the gradual rollout of new product collections.”
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