GOING WITH THE FLOW: Markets may be volatile, but Salvatore Ferragamo chief executive officer Michele Norsa is keeping his eye on the ball, i.e. the flow of tourists. “Customers are mobile and we are not worried with where they buy because they are attentive to the prices and shop where it’s more convenient,” said Norsa ahead of the brand’s show on Sunday.
He noted that the Florence-based company is “substantially maintaining its prices,” with slight adjustments in Japan, for example, to “eliminate the differential” given the devaluation of the local currency. Norsa said the U.S. has shown “several quarters of double-digit growth,” adding that this “may be the region where we will invest the most in 2013,” citing the renovation of stores in Chicago and San Francisco and a new unit in Toronto.
Norsa said growth has globally been “relevant,” and that gains in the second quarter are expected to be in line with the first quarter.