TOKYO — Salvatore Ferragamo SpA is hoping to jump-start stagnant sales in Japan by cutting the retail prices of some pre-fall and fall-winter items by an average of 10 percent.
"We would like to be close to our loyal Japanese customers so we make an effort," Ferragamo chief executive officer Michele Norsa told WWD in an interview, adding that the company's first-quarter sales in Japan were basically flat. He said Ferragamo may opt for more price cuts in the pre-spring selling season.
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