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Ferragamo Sales Gain 9.1%

Growth in its core footwear and handbags categories and a jump in its retail channel in China lifted the company's revenues.

MILAN — Growth in its core footwear and handbags categories and a jump in its retail channel in China lifted Salvatore Ferragamo SpA revenues by 9.1 percent to 1.25 billion euros, or $1.65 billion, in the year ended Dec. 31. This compares with revenues of 1.15 billion euros, or $1.47 billion, in 2012.

At constant exchange rates, revenues would have grown 10.6 percent.

Dollar amounts are converted at average exchange for the periods to which they refer.

The Asia-Pacific area was confirmed as Ferragamo’s main market in terms of revenue, accounting for 37.1 percent of the total. Sales in the region were up 11 percent and reached 466.5 million euros, or $615.7 million. The retail channel in China provided a major contribution, showing 20 percent growth.

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Boosted by tourist flows, revenues in Europe gained 12.8 percent to 326.3 million euros, or $430.7 million, accounting for 26 percent of the total. The U.S. was up 13 percent to 290.3 million euros, or $383.2 million.

The Japanese market would have shown an increase of 0.7 percent at constant exchange to 116.1 million euros, or $153.2 million, but at current exchange, sales dropped 13.5 percent due to the weak yen.

Revenues in Central and South America rose 12.5 percent, accounting for 4.7 percent of the total.

By category, footwear sales rose 7.5 percent, and handbags and leather accessories gained 16.4 percent, together accounting for more than 76 percent of total revenues. Fragrances rose 13.7 percent, representing 6.3 percent of the total. Ready-to-wear decreased 4.5 percent, accounting for 8.2 percent of sales.

Sales in the retail channel were up 6.6 percent, accounting for almost 64 percent of the total. The wholesale and travel-retail channel showed 14 percent growth.