BUSINESS CLASS: Before the Marni show, chief executive officer Gianni Castiglioni said the company is investing in its experimental Edition collection, with a store in China opening soon (a Marni store in Shanghai is also up next), and one in Korea. Castiglioni said the company’s revenues last year gained 10 percent to 120 million euros, or $166.8 million at average exchange rates.
Later on Sunday, when asked about business in the U.S., Salvatore Ferragamo ceo Michele Norsa said there were encouraging signs as that market’s revenues gained 28 percent last year, accounting for 20 percent of the company’s business. “We are renovating our Fifth Avenue boutique, which should open in early April,” said Norsa, adding that a store will also open in San Diego midyear.
This story first appeared in the February 27, 2012 issue of WWD. Subscribe Today.